FY2024 EPS Estimates for Denison Mines Lowered by Scotiabank

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) – Scotiabank decreased their FY2024 earnings per share estimates for shares of Denison Mines in a report released on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now forecasts that the basic materials company will earn ($0.07) per share for the year, down from their previous estimate of ($0.06). The consensus estimate for Denison Mines’ current full-year earnings is ($0.06) per share. Scotiabank also issued estimates for Denison Mines’ FY2025 earnings at ($0.03) EPS and FY2026 earnings at ($0.03) EPS.

A number of other research firms have also issued reports on DNN. Roth Mkm reiterated a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Finally, CIBC began coverage on 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. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Performance

Shares of DNN stock opened at $1.96 on Friday. Denison Mines has a 12 month low of $1.40 and a 12 month high of $2.47. The firm has a market capitalization of $1.75 billion, a P/E ratio of -196.00 and a beta of 1.71. The company’s 50 day moving average is $2.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DNN. Toronto Dominion Bank grew its stake 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 period. Confluence Investment Management LLC grew its position in Denison Mines by 3.8% in the fourth quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 9,831 shares during the period. Legacy Capital Group California Inc. raised its stake in Denison Mines by 47.5% during the third 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 in the last quarter. SevenBridge Financial Group LLC raised its stake in Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 13,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Denison Mines by 1.9% during the second 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 period. 36.74% of the stock is 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.