Denison Mines Corp. (NYSEAMERICAN:DNN) Receives $3.00 Consensus Target Price from Analysts

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been assigned an average recommendation of “Strong Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $3.00.

Several brokerages have issued reports on DNN. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Roth Mkm reissued a “buy” rating and issued a $2.75 price objective (up previously from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Finally, CIBC assumed coverage on shares of Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target on the stock.

Institutional Trading of Denison Mines

A number of hedge funds and other institutional investors have recently modified their holdings of DNN. Natixis lifted its holdings in Denison Mines by 270.5% during the 1st quarter. Natixis now owns 445,808 shares of the basic materials company’s stock valued at $869,000 after buying an additional 325,472 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Denison Mines during the 1st quarter valued at approximately $1,758,000. Goehring & Rozencwajg Associates LLC lifted its stake 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 valued at $7,124,000 after acquiring an additional 479,600 shares during the period. Tidal Investments LLC lifted its stake in shares of Denison Mines by 53.9% in the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,018 shares during the period. Finally, Azarias Capital Management L.P. lifted its stake in shares of Denison Mines by 17.0% in the 2nd quarter. Azarias Capital Management L.P. now owns 3,406,586 shares of the basic materials company’s stock valued at $6,779,000 after purchasing an additional 496,182 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mines Stock Performance

DNN stock opened at $2.37 on Tuesday. The firm has a market cap of $2.12 billion, a P/E ratio of -238.00 and a beta of 1.69. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The company has a fifty day moving average of $1.99.

Denison Mines 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.