Denison Mines (NYSEAMERICAN:DNN) Hits New 1-Year Low – Time to Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $1.08 and last traded at $1.12, with a volume of 4030857 shares traded. The stock had previously closed at $1.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Desjardins began coverage on Denison Mines in a research note on Friday. They set a “buy” rating for the company. Scotiabank restated an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $3.00.

Denison Mines Price Performance

The company’s 50-day moving average is $1.59 and its 200-day moving average is $1.88. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -118.50 and a beta of 1.75.

Institutional Investors Weigh In On Denison Mines

Institutional investors and hedge funds have recently modified their holdings of the stock. Oxford Asset Management LLP acquired a new stake in shares of Denison Mines during the fourth quarter worth $26,000. Vantage Point Financial LLC acquired a new stake in Denison Mines during the fourth quarter worth about $34,000. Commonwealth Equity Services LLC lifted its holdings in Denison Mines 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 acquiring an additional 8,500 shares during the last quarter. Headlands Technologies LLC acquired a new position in Denison Mines in the fourth quarter valued at approximately $38,000. Finally, Bayesian Capital Management LP bought a new position in shares of Denison Mines during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors 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.