Denison Mine (NYSEAMERICAN:DNN) Trading 5.5% Higher – Here’s Why

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) traded up 5.5% on Tuesday . The company traded as high as $2.17 and last traded at $2.20. 5,613,937 shares were traded during trading, a decline of 93% from the average session volume of 77,524,102 shares. The stock had previously closed at $2.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a report on Thursday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Denison Mine in a report on Monday, August 11th. Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a report on Monday, August 18th. Desjardins raised Denison Mine to a “moderate buy” rating in a report on Monday, August 18th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Denison Mine in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to data from MarketBeat, Denison Mine currently has an average rating of “Buy” and a consensus target price of $3.00.

Denison Mine Trading Up 6.0%

The firm has a market capitalization of $1.98 billion, a P/E ratio of -36.75 and a beta of 1.39. The firm has a 50-day moving average of $1.98 and a two-hundred day moving average of $1.68.

Institutional Trading of Denison Mine

Several institutional investors and hedge funds have recently modified their holdings of the business. Oxford Asset Management LLP bought a new position in Denison Mine in the fourth quarter valued at about $26,000. WealthShield Partners LLC raised its position in Denison Mine by 50.0% in the second quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 6,000 shares during the last quarter. Sowell Financial Services LLC bought a new position in Denison Mine in the first quarter valued at about $26,000. B. Riley Wealth Advisors Inc. bought a new position in Denison Mine in the second quarter valued at about $38,000. Finally, R Squared Ltd bought a new position in Denison Mine in the second quarter valued at about $39,000. 36.74% of the stock is currently owned by institutional investors.

About Denison Mine

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.