Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up to $1.50

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) gapped up before the market opened on Friday . The stock had previously closed at $1.50, but opened at $1.61. Denison Mines shares last traded at $1.67, with a volume of 3,395,973 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DNN. Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, Roth Mkm initiated coverage on shares of Denison Mines in a report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $2.60.

Denison Mines Stock Performance

The company has a market cap of $1.54 billion, a price-to-earnings ratio of 23.86 and a beta of 1.73. The firm’s 50 day moving average price is $1.99.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. Equities research analysts forecast that Denison Mines Corp. will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors have recently modified their holdings of the stock. MMCAP International Inc. SPC grew its position in shares of Denison Mines by 37.7% during the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock valued at $54,148,000 after buying an additional 8,592,121 shares during the last quarter. Lloyd Harbor Capital Management LLC grew its position in shares of Denison Mines by 168.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after buying an additional 3,875,016 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Denison Mines by 9.2% during the 2nd quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock valued at $50,275,000 after buying an additional 2,138,603 shares during the last quarter. Van ECK Associates Corp grew its position in Denison Mines by 39.9% in the 2nd quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock worth $14,748,000 after purchasing an additional 2,111,912 shares during the last quarter. Finally, Fielder Capital Group LLC bought a new position in Denison Mines in the 4th quarter worth about $2,479,000. 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.