Brokerages Set Denison Mines Corp. (NYSEAMERICAN:DNN) Price Target at $3.00

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $3.00.

Several research analysts recently issued reports on DNN shares. Desjardins initiated coverage on Denison Mines in a research report on Friday, April 4th. They set a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mines in a report on Tuesday, March 25th.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds have recently bought and sold shares of the business. Oxford Asset Management LLP purchased a new position in shares of Denison Mines in the fourth quarter valued at approximately $26,000. Sowell Financial Services LLC purchased a new position in Denison Mines during the first quarter worth approximately $26,000. Providence Capital Advisors LLC purchased a new position in Denison Mines during the first quarter worth approximately $30,000. Commonwealth Equity Services LLC lifted its position in Denison Mines by 74.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock worth $36,000 after buying an additional 8,500 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Denison Mines during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Trading Up 1.9%

Shares of DNN stock opened at $1.65 on Wednesday. Denison Mines has a twelve month low of $1.08 and a twelve month high of $2.47. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -165.00 and a beta of 1.75. The stock has a fifty day simple moving average of $1.48 and a two-hundred day simple moving average of $1.76.

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.