Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 3.1% – Time to Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price fell 3.1% on Tuesday . The company traded as low as $1.87 and last traded at $1.89. 3,497,871 shares were traded during trading, a decline of 80% from the average session volume of 17,149,469 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DNN shares. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. CIBC started coverage on shares of Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target on the stock. Roth Mkm reiterated a “buy” rating and set a $2.75 price objective (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. Finally, National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Denison Mines presently has an average rating of “Buy” and an average price target of $3.00.

Denison Mines Trading Down 1.8 %

The firm has a market capitalization of $1.71 billion, a PE ratio of -191.50 and a beta of 1.71. The firm has a 50-day moving average of $2.02.

Hedge Funds Weigh In On Denison Mines

Several institutional investors and hedge funds have recently bought and sold shares of DNN. Toronto Dominion Bank raised its position in shares of Denison Mines by 39.4% in the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 6,777 shares during the last quarter. Legacy Capital Group California Inc. raised its stake in Denison Mines by 47.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 11,066 shares during the last quarter. SevenBridge Financial Group LLC boosted its position in Denison Mines by 54.2% in the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after buying an additional 13,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Denison Mines by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock valued at $1,378,000 after acquiring an additional 13,144 shares during the last quarter. Finally, Arlington Capital Management Inc. grew its position in Denison Mines by 3.2% during the 3rd quarter. Arlington Capital Management Inc. now owns 441,192 shares of the basic materials company’s stock worth $807,000 after purchasing an additional 13,481 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.