Denison Mine (NYSEAMERICAN:DNN) Trading 6.7% Higher – Should You Buy?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) traded up 6.7% during mid-day trading on Friday . The company traded as high as $3.02 and last traded at $3.02. 17,704,857 shares changed hands during trading, a decline of 78% from the average session volume of 79,399,266 shares. The stock had previously closed at $2.83.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Denison Mine in a research note on Thursday, August 7th. Desjardins upgraded shares of Denison Mine to a “moderate buy” rating in a research note on Monday, August 18th. Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a research report on Friday. National Bankshares reaffirmed an “outperform” rating on shares of Denison Mine in a research report on Monday, August 18th. Finally, TD Securities reissued a “buy” rating on shares of Denison Mine in a report on Monday, August 11th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, Denison Mine presently has an average rating of “Buy” and an average price target of $2.75.

Denison Mine Trading Up 1.8%

The firm’s 50-day moving average is $2.42 and its 200 day moving average is $1.90. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -48.00 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DNN. Sowell Financial Services LLC acquired a new position in shares of Denison Mine in the 1st quarter worth approximately $26,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Denison Mine by 27.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 401,491 shares of the basic materials company’s stock valued at $522,000 after acquiring an additional 86,704 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of Denison Mine during the 1st quarter valued at $195,000. Acuitas Investments LLC acquired a new position in shares of Denison Mine during the 1st quarter valued at $437,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Denison Mine during the 1st quarter valued at $93,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mine 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.