Denison Mines (NYSEAMERICAN:DNN) Trading 3.9% Higher – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was up 3.9% on Friday . The company traded as high as $2.19 and last traded at $2.15. Approximately 8,147,553 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 16,474,199 shares. The stock had previously closed at $2.07.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DNN. CIBC initiated coverage on shares of Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 target price on the stock. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $3.00.

Denison Mines Trading Up 2.4 %

The company has a 50 day simple moving average of $1.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DNN. Headlands Technologies LLC acquired a new position in Denison Mines during the first quarter worth about $51,000. Natixis increased its stake in Denison Mines by 270.5% in the 1st quarter. Natixis now owns 445,808 shares of the basic materials company’s stock valued at $869,000 after purchasing an additional 325,472 shares in the last quarter. Cetera Investment Advisers acquired a new position in Denison Mines during the first quarter worth $1,758,000. Goehring & Rozencwajg Associates LLC raised its holdings in Denison Mines by 15.5% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock worth $7,124,000 after purchasing an additional 479,600 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in Denison Mines by 53.9% in the first quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 14,018 shares during the last quarter. Institutional investors and hedge funds 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.