Denison Mine (NYSEAMERICAN:DNN) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.41 and traded as high as $2.69. Denison Mine shares last traded at $2.66, with a volume of 21,976,493 shares.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial restated an “outperform” rating on shares of Denison Mine in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Denison Mine Stock Up 1.1%

The firm’s 50-day simple moving average is $2.66 and its 200 day simple moving average is $2.41. The company has a debt-to-equity ratio of 1.49, a quick ratio of 11.78 and a current ratio of 11.97. The stock has a market capitalization of $2.40 billion, a P/E ratio of -17.73 and a beta of 1.25.

Hedge Funds Weigh In On Denison Mine

Large investors have recently made changes to their positions in the company. Two Sigma Investments LP increased its position in Denison Mine by 1,696.3% during the third quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock worth $46,823,000 after acquiring an additional 16,078,514 shares during the period. L1 Capital Pty Ltd raised its stake in Denison Mine by 4,544.0% during the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company’s stock worth $38,520,000 after acquiring an additional 13,705,598 shares in the last quarter. Vanguard Group Inc. increased its position in Denison Mine by 1,697.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company’s stock worth $36,502,000 after purchasing an additional 12,525,956 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Denison Mine by 17.5% in the 3rd quarter. Van ECK Associates Corp now owns 62,803,040 shares of the basic materials company’s stock valued at $172,709,000 after acquiring an additional 9,348,414 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its position in Denison Mine by 4,648.7% in the third quarter. DAVENPORT & Co LLC now owns 7,123,000 shares of the basic materials company’s stock valued at $19,588,000 after purchasing an additional 6,973,000 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

Denison Mine Company Profile

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.