Denison Mine (NYSEAMERICAN:DNN) Stock Crosses Above 200 Day Moving Average – What’s Next?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.41 and traded as high as $2.69. Denison Mine shares last traded at $2.66, with a volume of 21,976,493 shares traded.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial restated 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 MarketBeat.com, Denison Mine currently has a consensus rating of “Buy”.

Denison Mine Stock Performance

The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of -20.20 and a beta of 1.25. The stock has a 50 day simple moving average of $2.66 and a 200 day simple moving average of $2.42. The company has a quick ratio of 11.78, a current ratio of 11.97 and a debt-to-equity ratio of 1.49.

Hedge Funds Weigh In On Denison Mine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritter Daniher Financial Advisory LLC DE bought a new position in Denison Mine during the third quarter worth about $28,000. KERR FINANCIAL PLANNING Corp bought a new position in Denison Mine in the third quarter valued at about $28,000. Aire Advisors LLC bought a new stake in shares of Denison Mine during the third quarter worth approximately $28,000. Jones Financial Companies Lllp lifted its stake in shares of Denison Mine by 65.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 11,515 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 4,563 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Denison Mine during the third quarter worth about $36,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

About Denison Mine

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.