Traders Buy High Volume of Put Options on Denison Mine (NYSEAMERICAN:DNN)

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of unusually large options trading on Friday. Stock investors purchased 10,107 put options on the stock. This represents an increase of 103% compared to the typical volume of 4,982 put options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group initiated coverage on Denison Mine in a report on Thursday, September 3rd. They issued a “buy” rating for the company. Royal Bank Of Canada began coverage on shares of Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Denison Mine currently has an average rating of “Moderate Buy” and an average price target of $5.38.

Hedge Funds Weigh In On Denison Mine

Large investors have recently modified their holdings of the company. Van ECK Associates Corp grew its stake in Denison Mine by 22.4% during the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock worth $267,557,000 after buying an additional 16,013,484 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Denison Mine by 275.0% in the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after acquiring an additional 6,934,400 shares during the period. TD Asset Management Inc lifted its position in Denison Mine by 17.8% in the 4th quarter. TD Asset Management Inc now owns 8,608,043 shares of the basic materials company’s stock valued at $22,858,000 after purchasing an additional 1,297,838 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Denison Mine during the 2nd quarter valued at about $16,541,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Denison Mine by 218.4% in the fourth quarter. BNP Paribas Financial Markets now owns 4,852,968 shares of the basic materials company’s stock valued at $12,909,000 after purchasing an additional 3,328,681 shares during the period. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Denison Mine Trading Up 0.6%

Denison Mine stock traded up $0.01 during trading on Friday, reaching $2.65. The company had a trading volume of 12,430,639 shares, compared to its average volume of 32,644,100. The company has a debt-to-equity ratio of 2.38, a quick ratio of 9.14 and a current ratio of 9.41. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -12.02 and a beta of 1.24. Denison Mine has a 12-month low of $2.20 and a 12-month high of $4.43. The stock’s 50 day moving average price is $3.12 and its two-hundred day moving average price is $3.34.

About Denison Mine

Denison Mines Corp. is a Canadian uranium exploration and development company focused on advancing uranium projects and acquiring interests in uranium-producing assets. Its activities are concentrated primarily in the Athabasca Basin of northern Saskatchewan, Canada, one of the world’s leading uranium-producing regions.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix in-situ recovery uranium project and the Gryphon underground project.