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

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 18,956 call options on the company. Thisrepresentsanincreaseof217% compared to the average daily volume of 5,987 call options.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, August 7th. TD Securities reissued a “buy” rating on shares of Denison Mine in a research report on Monday. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Denison Mine has a consensus rating of “Buy” and an average target price of $3.00.

Hedge Funds Weigh In On Denison Mine

A number of hedge funds and other institutional investors have recently bought and sold shares of DNN. Alyeska Investment Group L.P. purchased a new stake in shares of Denison Mine in the 4th quarter valued at $35,837,000. MMCAP International Inc. SPC boosted its stake in shares of 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 valued at $31,064,000 after purchasing an additional 6,371,531 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Denison Mine by 393.3% in the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock valued at $9,221,000 after purchasing an additional 4,084,401 shares in the last quarter. NewGen Asset Management Ltd purchased a new stake in shares of Denison Mine in the 4th quarter valued at $5,441,000. Finally, Marshall Wace LLP boosted its stake in shares of Denison Mine by 41.5% in the 4th quarter. Marshall Wace LLP now owns 8,135,130 shares of the basic materials company’s stock valued at $14,643,000 after purchasing an additional 2,387,923 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mine Trading Down 6.5%

Shares of NYSEAMERICAN:DNN opened at $2.02 on Thursday. The company has a 50 day moving average of $1.92 and a 200 day moving average of $1.68. The stock has a market cap of $1.81 billion, a P/E ratio of -33.67 and a beta of 1.39. Denison Mine has a 12 month low of $1.08 and a 12 month high of $2.47.

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.