Denison Mine Corp (NYSEAMERICAN:DNN) Receives $5.38 Average Price Target from Analysts

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.3750.

A number of equities analysts have recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Royal Bank Of Canada assumed coverage on Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th.

Institutional Investors Weigh In On Denison Mine

Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Denison Mine by 11.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 884,637 shares of the basic materials company’s stock valued at $2,707,000 after purchasing an additional 90,532 shares in the last quarter. Basecamp Wealth Advisors LLC bought a new position in Denison Mine in the first quarter worth approximately $41,000. Steelhead Wealth Management LLC bought a new position in Denison Mine in the first quarter worth approximately $38,000. Rathbones Group PLC lifted its holdings in Denison Mine by 53.1% during the first quarter. Rathbones Group PLC now owns 115,300 shares of the basic materials company’s stock worth $407,000 after buying an additional 40,000 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Denison Mine by 77.4% during the first quarter. Bank of America Corp DE now owns 1,743,780 shares of the basic materials company’s stock worth $6,156,000 after buying an additional 760,719 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mine Stock Up 0.4%

Shares of NYSEAMERICAN DNN opened at $2.83 on Friday. The company has a debt-to-equity ratio of 2.81, a current ratio of 13.77 and a quick ratio of 13.46. The company has a market cap of $2.56 billion, a P/E ratio of -12.30 and a beta of 1.21. Denison Mine has a 1 year low of $1.86 and a 1 year high of $4.43. The firm has a 50-day simple moving average of $3.21 and a two-hundred day simple moving average of $3.55.

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.