Denison Mines Corp. (NYSEAMERICAN:DNN) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have earned an average recommendation of “Strong Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $3.00.

Several research analysts have weighed in on the company. CIBC began coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target on the stock. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd.

Institutional Investors Weigh In On Denison Mines

Several hedge funds have recently bought and sold shares of the stock. Integrated Investment Consultants LLC acquired a new stake in shares of Denison Mines during the third quarter worth $27,000. RPS Advisory Solutions LLC acquired a new position in shares of Denison Mines in the second quarter valued at about $46,000. Legacy Capital Group California Inc. increased 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 worth $46,000 after acquiring an additional 13,248 shares during the period. Toronto Dominion Bank raised its stake in 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 purchasing an additional 6,777 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Denison Mines by 78.5% in the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after purchasing an additional 14,688 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Denison Mines Stock Performance

Denison Mines stock opened at $2.09 on Friday. The firm has a market cap of $1.86 billion, a P/E ratio of -208.50 and a beta of 1.71. The business’s 50-day simple moving average is $2.02. Denison Mines has a one year low of $1.40 and a one year high of $2.47.

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.