Denison Mine (NYSEAMERICAN:DNN) Trading 8.9% Higher – Time to Buy?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML)’s share price traded up 8.9% on Friday . The company traded as high as $3.43 and last traded at $3.42. 3,609,668 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 33,587,277 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank restated an “outperform” rating on shares of Denison Mine in a research note on Thursday, May 14th. Royal Bank Of Canada initiated coverage on Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Five investment 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.38.

Denison Mine Trading Up 11.8%

The company has a current ratio of 9.41, a quick ratio of 13.46 and a debt-to-equity ratio of 2.38. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -15.95 and a beta of 1.23. The company has a fifty day moving average price of $3.11 and a 200-day moving average price of $3.47.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DNN. Susquehanna Fundamental Investments LLC purchased a new stake in Denison Mine in the 2nd quarter worth $443,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Denison Mine in the second quarter valued at about $28,000. Van ECK Associates Corp grew its position in shares of Denison Mine by 22.4% in the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock valued at $267,557,000 after purchasing an additional 16,013,484 shares during the period. Hsbc Holdings PLC grew its position in shares of Denison Mine by 60.6% in the second quarter. Hsbc Holdings PLC now owns 56,445 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 21,300 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Denison Mine during the second quarter worth about $620,000. 36.74% of the stock is owned by institutional investors and hedge funds.

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.