Denison Mine (NYSEAMERICAN:DNN) Reaches New 1-Year High – Time to Buy?

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) shares reached a new 52-week high during trading on Friday . The stock traded as high as $3.51 and last traded at $3.3850, with a volume of 7804770 shares changing hands. The stock had previously closed at $3.33.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a report on Friday, October 10th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Denison Mine Stock Performance

The stock’s 50 day moving average is $2.68 and its two-hundred day moving average is $2.46. The firm has a market capitalization of $3.01 billion, a P/E ratio of -22.43 and a beta of 1.25. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.97 and a quick ratio of 11.78.

Institutional Investors Weigh In On Denison Mine

A number of institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC increased its holdings in Denison Mine by 26.1% in the fourth quarter. Park Avenue Securities LLC now owns 17,068 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 3,533 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Denison Mine by 65.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 11,515 shares of the basic materials company’s stock worth $32,000 after buying an additional 4,563 shares during the period. Cetera Investment Advisers increased its stake in shares of Denison Mine by 0.6% in the 2nd quarter. Cetera Investment Advisers now owns 954,140 shares of the basic materials company’s stock valued at $1,737,000 after acquiring an additional 5,452 shares during the last quarter. Scotia Capital Inc. increased its stake in shares of Denison Mine by 2.5% in the 2nd quarter. Scotia Capital Inc. now owns 240,107 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 5,818 shares during the last quarter. Finally, WealthShield Partners LLC raised its position in shares of Denison Mine by 50.0% in the 2nd quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 6,000 shares during the period. 36.74% of the stock is owned by institutional investors and hedge funds.

About Denison Mine

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.