Denison Mine Sees Unusually Large Options Volume (NYSEAMERICAN:DNN)

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) saw some unusual options trading activity on Monday. Traders acquired 26,328 call options on the stock. This is an increase of 71% compared to the typical volume of 15,365 call options.

Denison Mine Stock Performance

Shares of NYSEAMERICAN:DNN traded down $0.25 on Monday, reaching $2.92. The company’s stock had a trading volume of 102,868,914 shares, compared to its average volume of 81,280,141. Denison Mine has a 52-week low of $1.08 and a 52-week high of $3.42. The company has a market cap of $2.62 billion, a P/E ratio of -48.67 and a beta of 1.32. The company has a 50-day simple moving average of $2.69 and a 200 day simple moving average of $2.09.

Analyst Ratings Changes

DNN has been the subject of several research analyst reports. Desjardins raised shares of Denison Mine to a “moderate buy” rating in a research note on Monday, August 18th. National Bankshares reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Monday, August 18th. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Thursday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Denison Mine in a research note on Monday, August 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Denison Mine currently has an average rating of “Buy”.

Hedge Funds Weigh In On Denison Mine

A number of institutional investors and hedge funds have recently made changes to their positions in DNN. DAVENPORT & Co LLC boosted its stake in shares of Denison Mine by 4,648.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,123,000 shares of the basic materials company’s stock worth $19,588,000 after purchasing an additional 6,973,000 shares during the period. MMCAP International Inc. SPC raised its position in Denison Mine by 36.4% in the 1st quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company’s stock worth $31,064,000 after purchasing an additional 6,371,531 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Denison Mine in the 2nd quarter worth about $7,998,000. BW Gestao de Investimentos Ltda. purchased a new stake in Denison Mine in the 2nd quarter worth about $5,333,000. Finally, Vident Advisory LLC raised its position in Denison Mine by 41.9% in the 2nd quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company’s stock worth $17,755,000 after purchasing an additional 2,881,618 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.