Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 5% – What’s Next?

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) were down 5% on Monday . The stock traded as low as $2.27 and last traded at $2.27. Approximately 23,353,904 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 16,888,727 shares. The stock had previously closed at $2.39.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DNN shares. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. CIBC began coverage on Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective on the stock. Roth Mkm reissued a “buy” rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. StockNews.com raised shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $3.00.

Denison Mines Trading Up 1.3 %

The company has a market cap of $2.05 billion, a PE ratio of -227.00 and a beta of 1.69. The company’s 50-day moving average price is $2.00.

Institutional Investors Weigh In On Denison Mines

A number of hedge funds have recently added to or reduced their stakes in DNN. Hood River Capital Management LLC grew its holdings in shares of Denison Mines by 9.2% in the second 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 acquiring an additional 2,138,603 shares in the last quarter. Segra Capital Management LLC grew its stake in Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after purchasing an additional 10,140,540 shares during the period. Van ECK Associates Corp increased its position in shares of Denison Mines by 96.8% during the 3rd quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock valued at $26,671,000 after purchasing an additional 7,168,934 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Denison Mines by 0.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock worth $20,170,000 after purchasing an additional 46,000 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in shares of Denison Mines by 10.2% in the 3rd quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company’s stock worth $15,298,000 after buying an additional 774,441 shares during the last quarter. 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.