Denison Mine (NYSEAMERICAN:DNN) Hits New 1-Year High – Should You Buy?

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) hit a new 52-week high during trading on Wednesday . The stock traded as high as $4.09 and last traded at $4.0650, with a volume of 11581928 shares traded. The stock had previously closed at $3.94.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial restated an “outperform” rating on shares of Denison Mine in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Denison Mine Stock Up 5.5%

The firm has a 50-day simple moving average of $2.95 and a 200 day simple moving average of $2.64. The company has a market capitalization of $3.75 billion, a PE ratio of -27.70 and a beta of 1.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.97 and a quick ratio of 11.78.

Institutional Trading of Denison Mine

A number of hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC raised its stake in shares of Denison Mine by 26.1% in the 4th quarter. Park Avenue Securities LLC now owns 17,068 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 3,533 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Denison Mine by 65.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,515 shares of the basic materials company’s stock worth $32,000 after buying an additional 4,563 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Denison Mine by 0.6% during the 2nd quarter. Cetera Investment Advisers now owns 954,140 shares of the basic materials company’s stock worth $1,737,000 after buying an additional 5,452 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Denison Mine by 2.5% in the 2nd quarter. Scotia Capital Inc. now owns 240,107 shares of the basic materials company’s stock worth $437,000 after acquiring an additional 5,818 shares in the last quarter. Finally, WealthShield Partners LLC increased its holdings in shares of Denison Mine by 50.0% in the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mine Company Profile

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.