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

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) was the target of some unusual options trading activity on Monday. Traders bought 35,928 call options on the stock. This represents an increase of 245% compared to the typical daily volume of 10,405 call options.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sowell Financial Services LLC bought a new stake in Denison Mine in the first quarter valued at about $26,000. Providence Capital Advisors LLC bought a new stake in Denison Mine in the first quarter valued at about $30,000. WealthShield Partners LLC increased its stake in Denison Mine by 50.0% in the second 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 period. B. Riley Wealth Advisors Inc. bought a new stake in Denison Mine in the second quarter valued at about $38,000. Finally, R Squared Ltd bought a new stake in Denison Mine in the second quarter valued at about $39,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Monday, August 18th. TD Securities reaffirmed a “buy” rating on shares of Denison Mine in a research note on Monday, August 11th. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Thursday, August 7th. Desjardins raised shares of Denison Mine to a “moderate buy” rating in a research note on Monday, August 18th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Friday. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2.75.

Denison Mine Stock Performance

Shares of DNN opened at $3.08 on Tuesday. The company has a 50-day simple moving average of $2.44 and a 200-day simple moving average of $1.92. The firm has a market capitalization of $2.76 billion, a P/E ratio of -51.33 and a beta of 1.32. Denison Mine has a 52 week low of $1.08 and a 52 week high of $3.14.

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.