Denison Mines (TSE:DML) Trading Down 2.7% – Here’s What Happened

Denison Mines Corp. (TSE:DML) (NYSE:DNN) shares were down 2.7% during mid-day trading on Wednesday . The stock traded as low as C$2.54 and last traded at C$2.54. Approximately 55,102 shares were traded during trading, a decline of 97% from the average daily volume of 1,910,889 shares. The stock had previously closed at C$2.61.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DML. Roth Capital raised Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. National Bankshares set a C$3.50 price objective on Denison Mines and gave the company an “outperform” rating in a report on Wednesday, September 4th. CIBC set a C$3.25 price objective on Denison Mines and gave the company an “outperform” rating in a research note on Thursday, September 26th. National Bank Financial raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a buy rating and three have issued 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 C$3.46.

Denison Mines Price Performance

The company has a current ratio of 6.94, a quick ratio of 3.12 and a debt-to-equity ratio of 0.07. The firm has a market cap of C$2.30 billion, a P/E ratio of 43.00, a PEG ratio of 1.42 and a beta of 1.89. The firm has a 50-day simple moving average of C$2.25 and a 200-day simple moving average of C$2.65.

Denison Mines (TSE:DML) (NYSE:DNN) last issued its quarterly earnings results on Thursday, August 8th. The company reported C($0.02) EPS for the quarter, hitting analysts’ consensus estimates of C($0.02). The company had revenue of C$1.33 million during the quarter, compared to analysts’ expectations of C$1.10 million. Denison Mines had a return on equity of 10.60% and a net margin of 1,412.07%. As a group, analysts forecast that Denison Mines Corp. will post -0.01 EPS for the current year.

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.