Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up – What’s Next?

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) gapped up before the market opened on Thursday . The stock had previously closed at $1.80, but opened at $1.86. Denison Mines shares last traded at $1.98, with a volume of 5,427,588 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective on the stock. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, 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. One research 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 data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Price Performance

The company has a market capitalization of $1.78 billion, a P/E ratio of -199.50 and a beta of 1.71. The firm has a fifty day simple moving average of $2.02.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DNN. CIBC Asset Management Inc boosted its position in Denison Mines by 8.2% in the second quarter. CIBC Asset Management Inc now owns 1,041,079 shares of the basic materials company’s stock valued at $2,084,000 after buying an additional 78,963 shares in the last quarter. Rathbones Group PLC increased its stake in shares of Denison Mines by 66.0% in the second quarter. Rathbones Group PLC now owns 96,300 shares of the basic materials company’s stock valued at $193,000 after buying an additional 38,300 shares during the period. Dimensional Fund Advisors LP raised its holdings in Denison Mines by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 784,554 shares of the basic materials company’s stock valued at $1,562,000 after buying an additional 132,141 shares during the last quarter. Old West Investment Management LLC raised its holdings in Denison Mines by 1.2% in the 2nd quarter. Old West Investment Management LLC now owns 1,437,886 shares of the basic materials company’s stock valued at $2,861,000 after buying an additional 17,648 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Denison Mines by 15.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock worth $7,124,000 after acquiring an additional 479,600 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

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.