Denison Mine (NYSEAMERICAN:DNN) Sees Large Volume Increase – Here’s What Happened

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) saw unusually-strong trading volume on Monday . Approximately 34,820,186 shares changed hands during trading, a decline of 18% from the previous session’s volume of 42,706,029 shares.The stock last traded at $1.88 and had previously closed at $1.65.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DNN. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research note on Tuesday, March 25th. Desjardins began coverage on shares of Denison Mine in a research note on Friday, April 4th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3.00.

Denison Mine Price Performance

The company’s 50 day moving average price is $1.51 and its 200 day moving average price is $1.76. The firm has a market capitalization of $1.64 billion, a P/E ratio of -22.88 and a beta of 1.46.

Hedge Funds Weigh In On Denison Mine

Several large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in Denison Mine by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 8,500 shares during the period. Envestnet Asset Management Inc. raised its holdings in Denison Mine by 35.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 8,783 shares during the period. Legacy Capital Group California Inc. raised its holdings in Denison Mine by 26.2% in the fourth quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 9,002 shares during the period. Old West Investment Management LLC raised its holdings in Denison Mine by 0.7% in the fourth quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company’s stock worth $2,611,000 after purchasing an additional 10,251 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Denison Mine by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company’s stock worth $792,000 after purchasing an additional 11,296 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Denison Mine 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.