Denison Mine (NYSEAMERICAN:DNN) Shares Down 6.9% – What’s Next?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) fell 6.9% on Thursday . The stock traded as low as $2.62 and last traded at $2.6250. Approximately 27,140,305 shares changed hands during trading, a decline of 17% from the average session volume of 32,707,381 shares. The stock had previously closed at $2.82.

Analysts Set New Price Targets

Several brokerages have recently commented on DNN. Royal Bank Of Canada assumed coverage on Denison Mine in a research report on Monday, July 13th. They issued an “outperform” rating for the company. Jefferies Financial Group began coverage on Denison Mine in a report on Thursday, September 3rd. They issued a “buy” rating on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Denison Mine Price Performance

The company has a market capitalization of $2.38 billion, a PE ratio of -11.93 and a beta of 1.24. 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 stock has a 50 day moving average price of $3.13 and a two-hundred day moving average price of $3.35.

Hedge Funds Weigh In On Denison Mine

Several institutional investors have recently bought and sold shares of DNN. Van ECK Associates Corp increased its holdings in shares of Denison Mine by 22.4% during the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock valued at $267,557,000 after acquiring an additional 16,013,484 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Denison Mine by 275.0% in the first quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock valued at $33,379,000 after purchasing an additional 6,934,400 shares during the period. TD Asset Management Inc lifted its stake in shares of Denison Mine by 17.8% in the fourth quarter. TD Asset Management Inc now owns 8,608,043 shares of the basic materials company’s stock worth $22,858,000 after buying an additional 1,297,838 shares during the last quarter. Goehring & Rozencwajg Associates LLC lifted its stake in shares of Denison Mine by 19.4% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock worth $16,664,000 after buying an additional 767,863 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Denison Mine during the 2nd quarter worth $16,541,000. 36.74% of the stock is currently owned by institutional investors.

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.