Denison Mines (NYSEAMERICAN:DNN) Sees Large Volume Increase – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) saw an uptick in trading volume on Wednesday . 56,117,485 shares traded hands during trading, an increase of 113% from the previous session’s volume of 26,395,514 shares.The stock last traded at $1.28 and had previously closed at $1.30.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DNN. Desjardins started coverage on Denison Mines in a report on Friday. They issued a “buy” rating for the company. Scotiabank reissued an “outperform” rating on shares of Denison Mines in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Denison Mines has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Down 4.0 %

The stock’s 50 day moving average price is $1.59 and its two-hundred day moving average price is $1.88. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -119.00 and a beta of 1.75.

Hedge Funds Weigh In On Denison Mines

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Denison Mines by 1.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,884,241 shares of the basic materials company’s stock worth $114,120,000 after acquiring an additional 880,966 shares during the last quarter. Van ECK Associates Corp raised its position in Denison Mines by 43.3% in the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock valued at $37,595,000 after purchasing an additional 6,305,332 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Denison Mines in the fourth quarter valued at about $35,837,000. Segra Capital Management LLC lifted its position in Denison Mines by 124.8% during the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after purchasing an additional 10,140,540 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in Denison Mines by 5.8% during the 4th quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company’s stock worth $18,298,000 after acquiring an additional 558,200 shares during the period. Institutional investors and hedge funds own 36.74% of the company’s stock.

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.