Denison Mines (NYSEAMERICAN:DNN) Reaches New 12-Month Low – Here’s Why

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $1.08 and last traded at $1.12, with a volume of 4030857 shares trading hands. The stock had previously closed at $1.19.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DNN shares. Desjardins started coverage on shares of Denison Mines in a report on Friday. They set a “buy” rating for the company. Scotiabank restated an “outperform” rating on shares of Denison Mines in a research report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Down 1.3 %

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -118.50 and a beta of 1.75. The stock’s 50 day moving average is $1.59 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On Denison Mines

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