Denison Mine (NYSEAMERICAN:DNN) Shares Climb 5.9% – Should You Buy?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) shares shot up 5.9% during trading on Tuesday. The stock traded as high as $2.81 and last traded at $2.7850. 11,352,879 shares traded hands during trading, a decline of 65% from the average session volume of 32,396,205 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

Several brokerages recently weighed in on DNN. Royal Bank Of Canada began coverage on shares of Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating on the stock. Jefferies Financial Group assumed coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They issued a “buy” rating on the stock. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Denison Mine Trading Up 7.4%

The company has a market cap of $2.56 billion, a P/E ratio of -12.80 and a beta of 1.37. The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. The business has a 50 day moving average price of $3.07 and a 200-day moving average price of $3.28.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Denison Mine by 22.4% in the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock valued at $267,557,000 after purchasing an additional 16,013,484 shares during the last quarter. Renaissance Technologies LLC grew its position in Denison Mine by 275.0% during the first quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after buying an additional 6,934,400 shares in the last quarter. TD Asset Management Inc increased its position in shares of Denison Mine by 17.8% in the fourth quarter. TD Asset Management Inc now owns 8,608,043 shares of the basic materials company’s stock worth $22,858,000 after purchasing an additional 1,297,838 shares during the period. Goehring & Rozencwajg Associates LLC increased its holdings in Denison Mine by 19.4% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock valued at $16,664,000 after buying an additional 767,863 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Denison Mine in the second quarter valued at approximately $16,541,000. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mine Company Profile

Denison Mines Corp. is a uranium exploration, development and production company focused primarily on the Athabasca Basin in northern Saskatchewan, Canada. The company’s activities include the acquisition, evaluation and advancement of uranium mineral properties, with an emphasis on projects that could support future uranium production.

Denison’s flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Phoenix is being advanced as an in-situ recovery project, while Gryphon is being evaluated as an underground mining operation.