Denison Mines (NYSEAMERICAN:DNN) Upgraded by Scotiabank to “Strong-Buy”

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by stock analysts at Scotiabank to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

A number of other research analysts have also weighed in on DNN. Roth Mkm began coverage on shares of Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. StockNews.com raised shares of Denison Mines to a “sell” rating in a research report on Sunday, May 19th. Finally, Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $2.60.

Denison Mines Price Performance

DNN stock opened at $2.12 on Tuesday. Denison Mines has a 1 year low of $1.15 and a 1 year high of $2.47. The firm has a market capitalization of $1.89 billion, a P/E ratio of 30.29 and a beta of 1.73.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. The business had revenue of $0.62 million during the quarter. Equities analysts forecast that Denison Mines will post -0.06 earnings per share for the current year.

Institutional Trading of Denison Mines

Several large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Denison Mines by 7.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,008,885 shares of the basic materials company’s stock worth $86,228,000 after buying an additional 3,342,434 shares during the last quarter. MMCAP International Inc. SPC grew its stake in shares of Denison Mines by 37.7% during the fourth quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock valued at $54,148,000 after purchasing an additional 8,592,121 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Denison Mines by 15.0% during the first quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock valued at $13,191,000 after purchasing an additional 884,599 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Denison Mines by 22.2% during the first quarter. Van ECK Associates Corp now owns 5,293,313 shares of the basic materials company’s stock valued at $10,327,000 after purchasing an additional 960,585 shares during the last quarter. Finally, Azarias Capital Management L.P. grew its stake in shares of Denison Mines by 6.0% during the first quarter. Azarias Capital Management L.P. now owns 2,910,404 shares of the basic materials company’s stock valued at $5,675,000 after purchasing an additional 165,000 shares during the last quarter. 36.74% of the stock is owned by institutional investors.

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.