Denison Mines Corp. (NYSEAMERICAN:DNN) Receives $2.93 Consensus Target Price from Analysts

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been assigned a consensus recommendation of “Strong Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.93.

Several equities analysts recently issued reports on the stock. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. CIBC started coverage on shares of Denison Mines in a research note on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective on the stock. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th.

Denison Mines Price Performance

DNN stock opened at $1.96 on Monday. The company has a 50-day moving average price of $1.98. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The stock has a market capitalization of $1.75 billion, a PE ratio of 28.00 and a beta of 1.70.

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 (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $0.80 million. On average, research analysts expect that Denison Mines will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds and other institutional investors have recently modified their holdings of DNN. &PARTNERS bought a new position in Denison Mines during the first quarter valued at $34,000. RPS Advisory Solutions LLC bought a new position in Denison Mines during the second quarter valued at $46,000. Legacy Capital Group California Inc. lifted its position in Denison Mines by 131.7% during the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 13,248 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Denison Mines by 39.4% in the 2nd 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 bought a new stake in shares of Denison Mines in the 1st quarter worth about $51,000. Institutional investors own 36.74% of the company’s stock.

About Denison Mines

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.