Denison Mine (NYSEAMERICAN:DNN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.85 and traded as high as $2.86. Denison Mine shares last traded at $2.80, with a volume of 119,659,832 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DNN shares. Raymond James Financial restated an “outperform” rating on shares of Denison Mine in a research report on Monday, August 18th. Desjardins upgraded shares of Denison Mine to a “moderate buy” rating in a research report on Monday, August 18th. TD Securities reiterated a “buy” rating on shares of Denison Mine in a report on Monday, August 11th. National Bankshares reiterated an “outperform” rating on shares of Denison Mine in a research note on Monday, August 18th. Finally, Scotiabank restated an “outperform” rating on shares of Denison Mine in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $2.75.

Denison Mine Trading Up 1.1%

The stock’s fifty day simple moving average is $2.34 and its 200 day simple moving average is $1.85. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -46.67 and a beta of 1.32.

Institutional Trading of Denison Mine

A number of hedge funds and other institutional investors have recently modified their holdings of DNN. Cetera Investment Advisers boosted its holdings in Denison Mine by 0.6% in the second quarter. Cetera Investment Advisers now owns 954,140 shares of the basic materials company’s stock valued at $1,737,000 after purchasing an additional 5,452 shares during the period. Scotia Capital Inc. raised its position in Denison Mine by 2.5% in the 2nd quarter. Scotia Capital Inc. now owns 240,107 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 5,818 shares in the last quarter. WealthShield Partners LLC raised its position in Denison Mine by 50.0% in the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 6,000 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Denison Mine by 24.2% in the 2nd quarter. Osaic Holdings Inc. now owns 54,647 shares of the basic materials company’s stock valued at $99,000 after buying an additional 10,637 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Denison Mine by 13.4% during the first quarter. HighTower Advisors LLC now owns 102,180 shares of the basic materials company’s stock worth $133,000 after buying an additional 12,050 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

About Denison Mine

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.