Denison Mine (NYSEAMERICAN:DNN) Sets New 1-Year High – Here’s Why

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) shares hit a new 52-week high on Thursday . The stock traded as high as $3.55 and last traded at $3.49, with a volume of 62153582 shares. The stock had previously closed at $3.35.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reiterated an “outperform” rating on shares of Denison Mine in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Denison Mine Stock Performance

The company has a debt-to-equity ratio of 1.49, a quick ratio of 11.78 and a current ratio of 11.97. The stock has a 50 day moving average of $2.77 and a 200 day moving average of $2.53. The stock has a market capitalization of $3.33 billion, a P/E ratio of -24.60 and a beta of 1.25.

Institutional Investors Weigh In On Denison Mine

Several large investors have recently made changes to their positions in DNN. Royal Bank of Canada increased its stake in Denison Mine by 14.6% during the 1st quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock valued at $5,613,000 after buying an additional 550,064 shares during the period. Millennium Management LLC boosted its holdings in shares of Denison Mine by 11.5% in the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock valued at $7,423,000 after acquiring an additional 587,352 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Denison Mine by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock valued at $2,194,000 after acquiring an additional 45,125 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Denison Mine by 62.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company’s stock valued at $1,955,000 after acquiring an additional 578,365 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Denison Mine by 504.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,521 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 53,852 shares in the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

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.