Denison Mines (NYSEAMERICAN:DNN) Earns Sector Outperform Rating from Analysts at CIBC

CIBC assumed coverage on shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued a sector outperform rating and a $3.25 price target on the basic materials company’s stock.

DNN has been the subject of several other reports. BMO Capital Markets upgraded shares of Denison Mines from a market perform rating to an outperform rating in a research note on Wednesday. Roth Mkm assumed coverage on Denison Mines in a research report on Thursday, June 27th. They issued a buy rating and a $2.60 price objective for the company. Roth Capital raised Denison Mines to a strong-buy rating in a report on Thursday, June 27th. Scotiabank upgraded Denison Mines to a strong-buy rating in a research note on Tuesday, July 2nd. Finally, National Bank Financial raised shares of Denison Mines to a strong-buy rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $2.93.

Denison Mines Stock Performance

Shares of Denison Mines stock opened at $1.87 on Thursday. The company has a 50 day moving average price of $1.98. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 26.71 and a beta of 1.70. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, analysts anticipate that Denison Mines will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Denison Mines

Large investors have recently bought and sold shares of the company. &PARTNERS bought a new position in shares of Denison Mines during the first quarter valued at $34,000. Legacy Capital Group California Inc. increased its holdings in Denison Mines by 131.7% in the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 13,248 shares during the period. RPS Advisory Solutions LLC bought a new position in Denison Mines during the 2nd quarter worth $46,000. Toronto Dominion Bank lifted its holdings in Denison Mines by 39.4% during the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after buying an additional 6,777 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Denison Mines during the 1st quarter worth about $51,000. 36.74% of the stock is currently owned by institutional investors.

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.