Denison Mines (NYSEAMERICAN:DNN) Lifted to “Strong-Buy” at Cibc World Mkts

Cibc World Mkts upgraded shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) to a strong-buy rating in a research note issued to investors on Thursday, Zacks.com reports.

Other research analysts also recently issued reports about the stock. StockNews.com raised shares of Denison Mines to a sell rating in a research note on Wednesday, July 31st. CIBC initiated coverage on shares of Denison Mines in a report on Thursday. They set a sector outperform rating and a $3.25 target price on the stock. National Bank Financial raised shares of Denison Mines to a strong-buy rating in a research note on Tuesday, September 3rd. Roth Capital raised Denison Mines to a strong-buy rating in a research note on Thursday, June 27th. Finally, Roth Mkm initiated coverage on Denison Mines in a report on Thursday, June 27th. They issued a buy rating and a $2.60 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Denison Mines currently has an average rating of Buy and a consensus price target of $2.93.

Denison Mines Stock Up 0.5 %

NYSEAMERICAN DNN opened at $1.87 on Thursday. The company’s 50-day moving average price is $1.98. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The stock has a market capitalization of $1.67 billion, a P/E ratio of 26.71 and a beta of 1.70.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. Analysts expect that Denison Mines will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in Denison Mines by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 923,715 shares of the basic materials company’s stock worth $1,838,000 after buying an additional 22,405 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Denison Mines by 0.5% during the second quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock valued at $20,170,000 after acquiring an additional 46,000 shares in the last quarter. Lloyd Harbor Capital Management LLC lifted its stake in Denison Mines by 168.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after acquiring an additional 3,875,016 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Denison Mines by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock valued at $1,378,000 after acquiring an additional 13,144 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in Denison Mines by 39.4% during the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 6,777 shares during the period. Hedge funds and other 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.