Denison Mines Corp. (NYSEAMERICAN:DNN) Given Average Rating of “Strong Buy” by Analysts

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has earned a consensus rating of “Strong Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.00.

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. CIBC initiated coverage on Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price on the stock. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd.

Denison Mines Price Performance

Denison Mines stock opened at $2.10 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 35.00 and a beta of 1.71. The firm has a 50 day simple moving average of $1.99. Denison Mines has a 1-year low of $1.40 and a 1-year high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $0.80 million. Equities research analysts anticipate that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds have recently modified their holdings of DNN. Legacy Capital Group California Inc. increased its stake in shares of Denison Mines by 131.7% during 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 buying an additional 13,248 shares during the period. RPS Advisory Solutions LLC purchased a new stake in Denison Mines in the second quarter worth about $46,000. Toronto Dominion Bank boosted its position in Denison Mines by 39.4% during the 2nd 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. Headlands Technologies LLC purchased a new position in shares of Denison Mines during the 1st quarter worth approximately $51,000. Finally, Tidal Investments LLC raised its position in shares of Denison Mines by 53.9% in the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock worth $78,000 after acquiring an additional 14,018 shares in the last quarter. Hedge funds and other institutional investors 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.