Denison Mines (NYSEAMERICAN:DNN) Sees Strong Trading Volume

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) saw unusually-high trading volume on Tuesday . Approximately 4,263,719 shares were traded during trading, a decline of 9% from the previous session’s volume of 4,675,071 shares.The stock last traded at $1.62 and had previously closed at $1.65.

Wall Street Analyst Weigh In

Several research firms recently commented on DNN. Raymond James cut their target price on shares of Denison Mines from C$2.50 to C$2.40 in a research note on Tuesday, June 27th. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research note on Thursday, September 7th. Cormark upgraded shares of Denison Mines to a “buy” rating in a research note on Tuesday, June 27th. Finally, TD Securities increased their price objective on shares of Denison Mines from C$2.25 to C$2.50 in a research note on Tuesday, June 27th.

Denison Mines Price Performance

The business has a 50-day simple moving average of $1.20. The stock has a market capitalization of $1.34 billion, a PE ratio of -162.00 and a beta of 1.83.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings data on Thursday, August 10th. The basic materials company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a negative net margin of 136.87% and a negative return on equity of 3.24%. The firm had revenue of $2.60 million for the quarter. Equities research analysts expect that Denison Mines Corp. will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Denison Mines

Several institutional investors and hedge funds have recently modified their holdings of DNN. Scotia Capital Inc. lifted its position in Denison Mines by 89.6% during the first quarter. Scotia Capital Inc. now owns 104,333 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 49,296 shares during the period. Goehring & Rozencwajg Associates LLC bought a new stake in Denison Mines during the fourth quarter worth about $2,676,000. MMCAP International Inc. SPC lifted its position in Denison Mines by 16.0% during the first quarter. MMCAP International Inc. SPC now owns 28,389,927 shares of the basic materials company’s stock worth $30,942,000 after purchasing an additional 3,912,734 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Denison Mines by 5.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 322,643 shares of the basic materials company’s stock worth $369,000 after acquiring an additional 17,712 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of Denison Mines by 130.4% in the first quarter. Credit Suisse AG now owns 1,544,626 shares of the basic materials company’s stock worth $2,271,000 after acquiring an additional 874,175 shares during the last quarter. 30.93% of the stock is currently owned by institutional investors and hedge funds.

About Denison Mines

Denison Mines Corp. operates as a uranium exploration and development company in Canada. Its flagship project is the 95% interest owned 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.