Denison Mines (NYSEAMERICAN:DNN) Shares Down 3.4% – Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price dropped 3.4% during mid-day trading on Monday . The company traded as low as $2.28 and last traded at $2.30. Approximately 3,842,828 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 16,200,526 shares. The stock had previously closed at $2.38.

Wall Street Analyst Weigh In

DNN has been the topic of several recent analyst reports. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. StockNews.com upgraded Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Scotiabank raised Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.93.

Denison Mines Price Performance

The company has a market cap of $2.04 billion, a PE ratio of 38.17 and a beta of 1.71. The stock’s fifty day simple moving average is $1.99.

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

Institutional Investors Weigh In On Denison Mines

Institutional investors have recently modified their holdings of the company. &PARTNERS acquired a new stake in Denison Mines in the first quarter valued at $34,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Denison Mines during the first quarter worth approximately $366,000. Azarias Capital Management L.P. lifted its stake in Denison Mines by 6.0% during the first quarter. Azarias Capital Management L.P. now owns 2,910,404 shares of the basic materials company’s stock worth $5,675,000 after purchasing an additional 165,000 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Denison Mines by 22.2% in the first quarter. Van ECK Associates Corp now owns 5,293,313 shares of the basic materials company’s stock valued at $10,327,000 after purchasing an additional 960,585 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Denison Mines by 63.8% in the first quarter. Private Advisor Group LLC now owns 190,000 shares of the basic materials company’s stock valued at $370,000 after purchasing an additional 74,000 shares during the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

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.