Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up – Should You Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.93, but opened at $1.99. Denison Mines shares last traded at $2.07, with a volume of 7,542,322 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $2.93.

Denison Mines Stock Up 1.8 %

The stock has a market capitalization of $1.98 billion, a P/E ratio of 37.00 and a beta of 1.71. The firm’s fifty day moving average price is $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings data 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 company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. As a group, equities research analysts forecast that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNN. &PARTNERS acquired a new position in Denison Mines in the 1st quarter valued at $34,000. RPS Advisory Solutions LLC acquired a new stake in shares of Denison Mines during the second quarter worth $46,000. Legacy Capital Group California Inc. boosted its position in shares of Denison Mines by 131.7% in the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 13,248 shares during the period. Toronto Dominion Bank grew its stake in shares of Denison Mines by 39.4% in the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Denison Mines during the first quarter worth about $51,000. 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.