Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 3.4% – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price fell 3.4% on Monday . The company traded as low as $2.28 and last traded at $2.30. 3,842,828 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 16,200,526 shares. The stock had previously closed at $2.38.

Wall Street Analyst Weigh In

Several analysts have commented on DNN shares. National Bank Financial raised Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Roth Mkm assumed coverage on shares of Denison Mines in a research note on Thursday, June 27th. They issued a “buy” rating and a $2.60 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $2.93.

Denison Mines Stock Performance

The firm has a fifty day simple moving average of $1.99. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 38.17 and a beta of 1.71.

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

Institutional Trading of Denison Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lloyd Harbor Capital Management LLC increased its holdings in shares of Denison Mines by 168.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after buying an additional 3,875,016 shares during the last quarter. Hood River Capital Management LLC increased its stake in Denison Mines by 9.2% during the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after acquiring an additional 2,138,603 shares during the last quarter. Van ECK Associates Corp raised its position in Denison Mines by 39.9% in the second quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock valued at $14,748,000 after purchasing an additional 2,111,912 shares during the period. Cetera Investment Advisers acquired a new position in shares of Denison Mines in the 1st quarter valued at $1,758,000. Finally, Vident Advisory LLC grew its holdings in shares of Denison Mines by 15.0% during the 1st quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after purchasing an additional 884,599 shares during the period. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mines Company Profile

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.