Denison Mine (NYSEAMERICAN:DNN) Hits New 12-Month Low – Here’s Why

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) reached a new 52-week low during trading on Tuesday. The stock traded as low as $2.10 and last traded at $2.1050, with a volume of 12,032,840 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

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

Denison Mine Stock Down 1.2%

The stock has a market cap of $1.91 billion, a P/E ratio of -9.57 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 firm’s fifty day moving average is $2.75 and its 200 day moving average is $3.32.

Institutional Trading of Denison Mine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. acquired a new position in shares of Denison Mine in the 3rd quarter valued at $128,507,000. CenterBook Partners LP bought a new position in shares of Denison Mine during the 3rd quarter worth about $661,000. Commonwealth Equity Services LLC bought a new position in shares of Denison Mine during the 3rd quarter worth about $53,000. Chicago Partners Investment Group LLC boosted its position in shares of Denison Mine by 19.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 477,215 shares of the basic materials company’s stock valued at $1,036,000 after acquiring an additional 77,745 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new stake in shares of Denison Mine during the 3rd quarter valued at about $31,000. 36.74% of the stock is currently owned by institutional investors.

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.