Denison Mine (NYSEAMERICAN:DNN) Shares Up 9% – Here’s What Happened

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) rose 9% on Thursday. The company traded as high as $2.36 and last traded at $2.3550. Approximately 17,680,847 shares were traded during trading, a decline of 45% from the average session volume of 32,430,092 shares. The stock had previously closed at $2.16.

Wall Street Analysts Forecast Growth

DNN has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on Denison Mine in a research report on Thursday, September 3rd. They issued a “buy” rating for the company. Royal Bank Of Canada initiated coverage on shares of Denison Mine in a research report on Monday, July 13th. They set an “outperform” rating on the stock. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Denison Mine has a consensus rating of “Moderate Buy” and a consensus price target of $5.38.

Denison Mine Stock Performance

The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. The company’s fifty day moving average is $3.01 and its 200 day moving average is $3.22. The company has a market cap of $2.10 billion, a P/E ratio of -10.52 and a beta of 1.37.

Institutional Trading of Denison Mine

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in shares of Denison Mine by 22.4% during the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock valued at $267,557,000 after buying an additional 16,013,484 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Denison Mine by 275.0% in the first quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after buying an additional 6,934,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Denison Mine in the 2nd quarter valued at about $16,541,000. Goehring & Rozencwajg Associates LLC lifted its stake in shares of Denison Mine by 19.4% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock valued at $16,664,000 after acquiring an additional 767,863 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Denison Mine in the 2nd quarter valued at about $13,237,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

About Denison Mine

Denison Mines Corp. is a uranium exploration, development and production company focused primarily on the Athabasca Basin in northern Saskatchewan, Canada. The company’s activities include the acquisition, evaluation and advancement of uranium mineral properties, with an emphasis on projects that could support future uranium production.

Denison’s flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Phoenix is being advanced as an in-situ recovery project, while Gryphon is being evaluated as an underground mining operation.