Denison Mine (NYSEAMERICAN:DNN) Stock Price Down 4.5% – Time to Sell?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) shares traded down 4.5% on Friday . The company traded as low as $3.06 and last traded at $3.0850. 9,403,651 shares were traded during mid-day trading, a decline of 72% from the average session volume of 33,137,766 shares. The stock had previously closed at $3.23.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Denison Mine in a research report on Monday, July 13th. They issued an “outperform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Zacks Research lowered shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group initiated coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Denison Mine currently has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Denison Mine Stock Down 5.4%

The company has a 50 day moving average of $3.18 and a 200-day moving average of $3.43. The company has a debt-to-equity ratio of 2.38, a current ratio of 9.41 and a quick ratio of 9.14. The company has a market cap of $2.77 billion, a P/E ratio of -13.89 and a beta of 1.24.

Institutional Trading of Denison Mine

Large investors have recently modified their holdings of the business. Two Sigma Investments LP grew its stake in Denison Mine by 1,696.3% in the 3rd quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock worth $46,823,000 after buying an additional 16,078,514 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Denison Mine by 22.4% in the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock worth $267,557,000 after buying an additional 16,013,484 shares during the last quarter. L1 Capital Pty Ltd raised its position in shares of Denison Mine by 4,544.0% during the 3rd quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company’s stock valued at $38,520,000 after buying an additional 13,705,598 shares in the last quarter. Vanguard Group Inc. raised its position in shares of 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 valued at $36,502,000 after buying an additional 12,525,956 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Denison Mine by 275.0% during the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after acquiring an additional 6,934,400 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

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.