Denison Mines (NYSEAMERICAN:DNN) Trading Up 5.5% – Time to Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was up 5.5% on Thursday . The stock traded as high as $2.30 and last traded at $2.30. Approximately 1,300,003 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 15,966,003 shares. The stock had previously closed at $2.18.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DNN shares. Scotiabank upgraded Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. Roth Mkm began coverage on Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. Finally, Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Denison Mines presently has an average rating of “Buy” and an average target price of $2.93.

Denison Mines Price Performance

The company has a market cap of $2.12 billion, a price-to-earnings ratio of 39.58 and a beta of 1.71. The company’s fifty day simple moving average is $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. On average, analysts expect that Denison Mines Corp. will post -0.06 earnings per share for the current year.

Institutional Trading of Denison Mines

A number of institutional investors have recently made changes to their positions in the business. &PARTNERS purchased a new position in shares of Denison Mines in the 1st quarter valued at approximately $34,000. RPS Advisory Solutions LLC purchased a new position in shares of Denison Mines in the second quarter worth $46,000. Legacy Capital Group California Inc. raised its holdings 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 worth $46,000 after buying an additional 13,248 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after buying an additional 6,777 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Denison Mines during the first quarter valued at $51,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mines Company Profile

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.