Denison Mine (NYSEAMERICAN:DNN) Reaches New 52-Week Low – Here’s Why

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) hit a new 52-week low on Monday. The stock traded as low as $2.10 and last traded at $2.1350, with a volume of 2,631,320 shares changing hands. The stock had previously closed at $2.17.

Wall Street Analyst Weigh In

DNN has been the topic of several recent research reports. Royal Bank Of Canada assumed coverage on Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating on the stock. Jefferies Financial Group initiated coverage on Denison Mine in a report on Thursday, September 3rd. They issued a “buy” rating on the stock. Finally, Zacks Research downgraded shares of Denison Mine from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $5.38.

Denison Mine Stock Performance

The stock’s 50-day moving average price is $2.83 and its two-hundred day moving average price is $3.34.

Institutional Trading of Denison Mine

A number of institutional investors have recently added to or reduced their stakes in the stock. Kelleher Financial Advisors purchased a new position in Denison Mine during the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Denison Mine in the second quarter worth about $28,000. Shore Point Advisors LLC bought a new position in shares of Denison Mine in the third quarter valued at approximately $26,000. SLT Holdings LLC bought a new position in shares of Denison Mine in the third quarter valued at approximately $26,000. Finally, Farther Finance Advisors LLC purchased a new position in Denison Mine during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mine Company Profile

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada’s Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison’s activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.