Denison Mine (NYSEAMERICAN:DNN) Upgraded to Strong-Buy at Zacks Research

Denison Mine (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Raymond James Financial reiterated an “outperform” rating on shares of Denison Mine in a research note on Wednesday, January 14th. TD Securities boosted their target price on shares of Denison Mine from $6.00 to $6.50 and gave the company a “buy” rating in a research report on Thursday. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a report on Friday, February 20th. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.25 price target on shares of Denison Mine in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $5.38.

Denison Mine Price Performance

NYSEAMERICAN DNN opened at $4.01 on Wednesday. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -23.59 and a beta of 1.18. Denison Mine has a 1-year low of $1.08 and a 1-year high of $4.43. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.97 and a quick ratio of 11.78. The business’s fifty day moving average price is $3.82 and its 200-day moving average price is $3.06.

Institutional Investors Weigh In On Denison Mine

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNN. Two Sigma Investments LP raised its stake in Denison Mine by 1,696.3% during the 3rd quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock worth $46,823,000 after acquiring an additional 16,078,514 shares during the period. L1 Capital Pty Ltd boosted its position in shares of Denison Mine by 4,544.0% in the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company’s stock worth $38,520,000 after purchasing an additional 13,705,598 shares during the period. Van ECK Associates Corp increased its stake in shares of Denison Mine by 20.9% in the fourth quarter. Van ECK Associates Corp now owns 75,910,027 shares of the basic materials company’s stock worth $201,916,000 after purchasing an additional 13,106,987 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Denison Mine by 1,697.4% in the third quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company’s stock worth $36,502,000 after purchasing an additional 12,525,956 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its position in shares of Denison Mine by 4,648.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,123,000 shares of the basic materials company’s stock valued at $19,588,000 after purchasing an additional 6,973,000 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mine Company Profile

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.