Brokers Set Expectations for Denison Mines FY2024 Earnings

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) – Scotiabank reduced their FY2024 EPS estimates for Denison Mines in a note issued to investors on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will post earnings of ($0.07) per share for the year, down from their previous estimate of ($0.06). The consensus estimate for Denison Mines’ current full-year earnings is ($0.06) per share. Scotiabank also issued estimates for Denison Mines’ FY2025 earnings at ($0.03) EPS and FY2026 earnings at ($0.03) EPS.

Several other research firms also recently commented on DNN. Roth Mkm reiterated a “buy” rating and set a $2.75 price objective (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. CIBC assumed coverage on shares of Denison Mines in a report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective for the company. Finally, BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Denison Mines presently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Down 0.5 %

NYSEAMERICAN DNN opened at $1.95 on Friday. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The business has a fifty day moving average price of $2.00. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -195.00 and a beta of 1.71.

Institutional Trading of Denison Mines

A number of hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC raised its holdings in Denison Mines by 3.8% in the 4th quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 9,831 shares during the last quarter. Toronto Dominion Bank raised its holdings in Denison Mines by 55.5% in the 3rd quarter. Toronto Dominion Bank now owns 37,266 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 13,297 shares during the last quarter. Geode Capital Management LLC raised its holdings in Denison Mines by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 420,723 shares of the basic materials company’s stock valued at $769,000 after acquiring an additional 34,192 shares during the last quarter. Segra Capital Management LLC raised its holdings in Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after acquiring an additional 10,140,540 shares during the last quarter. Finally, Impala Asset Management LLC acquired a new stake in Denison Mines in the 3rd quarter valued at about $1,076,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

About Denison Mines

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.