Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 4.9% – Here’s Why

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) fell 4.9% during trading on Tuesday . The stock traded as low as $1.65 and last traded at $1.64. 17,600,479 shares were traded during mid-day trading, a decline of 56% from the average session volume of 39,823,297 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DNN shares. Desjardins assumed coverage on shares of Denison Mines in a research report on Friday, April 4th. They set a “buy” rating for the company. Scotiabank restated an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3.00.

Denison Mines Price Performance

The firm has a market cap of $1.43 billion, a PE ratio of -158.50 and a beta of 1.75. The company’s 50 day moving average price is $1.45 and its 200 day moving average price is $1.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Denison Mines by 62.5% in 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 valued at $1,955,000 after purchasing an additional 578,365 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Denison Mines by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock valued at $2,194,000 after buying an additional 45,125 shares during the last quarter. Millennium Management LLC raised its stake in Denison Mines by 11.5% in the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock valued at $7,423,000 after buying an additional 587,352 shares in the last quarter. Royal Bank of Canada raised its stake in Denison Mines by 14.6% in the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock valued at $5,613,000 after buying an additional 550,064 shares in the last quarter. Finally, Caption Management LLC purchased a new stake in Denison Mines during the 1st quarter worth about $98,000. 36.74% of the stock is currently owned by hedge funds and other 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.