Denison Mine (NYSEAMERICAN:DNN) Trading Down 7.1% – Here’s Why

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML)’s stock price was down 7.1% on Thursday . The stock traded as low as $3.40 and last traded at $3.3160. Approximately 7,523,450 shares were traded during trading, a decline of 85% from the average daily volume of 48,607,965 shares. The stock had previously closed at $3.57.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating on shares of Denison Mine in a report on Wednesday, January 14th. Roth Mkm reiterated a “buy” rating and set a $4.25 price objective on shares of Denison Mine in a report on Wednesday, February 18th. TD Securities boosted their price objective on shares of Denison Mine from $6.00 to $6.50 and gave the company a “buy” rating in a research report on Thursday, March 12th. Zacks Research upgraded shares of Denison Mine from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research report on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Denison Mine has a consensus rating of “Buy” and an average target price of $5.38.

Denison Mine Price Performance

The firm has a market capitalization of $3.08 billion, a P/E ratio of -20.06 and a beta of 1.18. The stock’s fifty day simple moving average is $3.86 and its 200 day simple moving average is $3.15. The company has a debt-to-equity ratio of 1.66, a current ratio of 10.75 and a quick ratio of 10.51.

Institutional Investors Weigh In On Denison Mine

Several institutional investors have recently bought and sold shares of DNN. Royal Bank of Canada increased its position in shares of Denison Mine by 14.6% during the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock worth $5,613,000 after purchasing an additional 550,064 shares in the last quarter. Millennium Management LLC boosted its position in shares of Denison Mine by 11.5% in the 1st quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock worth $7,423,000 after purchasing an additional 587,352 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Denison Mine by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock worth $2,194,000 after buying an additional 45,125 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Denison Mine by 62.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company’s stock worth $1,955,000 after buying an additional 578,365 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Denison Mine by 29.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company’s stock valued at $102,000 after buying an additional 12,705 shares in the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

About Denison Mine

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.