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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DNN shares. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. 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. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. CIBC started coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. Finally, StockNews.com raised Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. One investment 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 stock. According to data from MarketBeat, Denison Mines has an average rating of “Buy” and a consensus target price of $2.93.

Denison Mines Stock Down 4.6 %

The firm’s 50-day simple moving average is $1.99. The stock has a market cap of $2.03 billion, a P/E ratio of 39.67 and a beta of 1.71.

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

Institutional Investors Weigh In On Denison Mines

Hedge funds and other institutional investors have recently modified their holdings of the stock. &PARTNERS bought a new position in shares of Denison Mines during the first quarter valued at $34,000. RPS Advisory Solutions LLC acquired a new stake in shares of Denison Mines during the second quarter worth approximately $46,000. Legacy Capital Group California Inc. raised its stake in shares of 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 acquiring an additional 13,248 shares during the last quarter. Toronto Dominion Bank boosted its holdings 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 worth $48,000 after acquiring an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Denison Mines during the 1st quarter worth approximately $51,000. 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.