Denison Mines (NYSEAMERICAN:DNN) Shares Up 5.5% – Should You Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares traded up 5.5% during mid-day trading on Thursday . The stock traded as high as $2.30 and last traded at $2.30. 1,300,003 shares changed hands during trading, a decline of 92% from the average session volume of 15,966,003 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DNN shares. StockNews.com raised Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. Finally, Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $2.93.

Denison Mines Trading Up 3.2 %

The stock has a 50 day moving average of $1.98. The stock has a market capitalization of $2.01 billion, a P/E ratio of 38.17 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. Sell-side analysts predict that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Denison Mines

A number of large investors have recently added to or reduced their stakes in DNN. &PARTNERS purchased a new stake in shares of Denison Mines during the 1st quarter valued at $34,000. RPS Advisory Solutions LLC acquired a new stake in Denison Mines in the second quarter worth about $46,000. Legacy Capital Group California Inc. boosted its holdings in Denison Mines by 131.7% in the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 13,248 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 6,777 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Denison Mines during the first quarter valued at about $51,000. 36.74% of the stock is currently owned by institutional investors.

Denison Mines 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.