Denison Mines Corp. (NYSEAMERICAN:DNN) Given Average Recommendation of “Buy” by Analysts

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been given an average recommendation of “Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $3.00.

DNN has been the subject of several recent analyst reports. Desjardins initiated coverage on Denison Mines in a report on Friday, April 4th. They issued a “buy” rating for the company. Scotiabank reissued an “outperform” rating on shares of Denison Mines in a report on Tuesday, March 25th.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its position in shares of Denison Mines by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock valued at $36,000 after buying an additional 8,500 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Denison Mines by 35.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 8,783 shares during the period. Legacy Capital Group California Inc. raised its holdings in Denison Mines by 26.2% in the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 9,002 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Denison Mines by 3.8% in the 4th quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 9,831 shares during the last quarter. Finally, Old West Investment Management LLC lifted its stake in shares of Denison Mines by 0.7% during the 4th quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company’s stock worth $2,611,000 after purchasing an additional 10,251 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Stock Down 8.0 %

Shares of Denison Mines stock opened at $1.27 on Tuesday. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -127.00 and a beta of 1.75. Denison Mines has a 52-week low of $1.08 and a 52-week high of $2.47. The company’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.83.

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.