Denison Mines Corp. (NYSEAMERICAN:DNN) Receives Consensus Rating of “Buy” from Analysts

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been given a consensus rating of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $3.00.

DNN has been the subject of a number of analyst reports. Scotiabank reissued an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. Desjardins started coverage on shares of Denison Mines in a research report on Friday, April 4th. They issued a “buy” rating on the stock.

Institutional Trading of Denison Mines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new position in Denison Mines during the 4th quarter worth $35,837,000. Van ECK Associates Corp grew its holdings in shares of Denison Mines by 43.3% during the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock worth $37,595,000 after buying an additional 6,305,332 shares during the last quarter. Millennium Management LLC increased its position in Denison Mines by 393.3% in the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock valued at $9,221,000 after acquiring an additional 4,084,401 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Denison Mines by 116.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company’s stock valued at $12,932,000 after acquiring an additional 3,838,504 shares during the last quarter. Finally, NewGen Asset Management Ltd acquired a new stake in Denison Mines during the 4th quarter worth approximately $5,441,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mines Trading Down 8.0 %

Shares of NYSEAMERICAN DNN opened at $1.27 on Tuesday. The stock has a market cap of $1.14 billion, a P/E ratio of -127.00 and a beta of 1.75. The business’s fifty day simple moving average is $1.44 and its 200-day simple moving average is $1.83. Denison Mines has a 12-month low of $1.08 and a 12-month high of $2.47.

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.