Brokerages Set Denison Mine Corp (NYSEAMERICAN:DNN) Price Target at $5.38

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) have received an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.3750.

DNN has been the subject of several analyst reports. TD Securities increased their target price on shares of Denison Mine from $6.00 to $6.50 and gave the company a “buy” rating in a report on Thursday, March 12th. Zacks Research cut shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th.

Denison Mine Price Performance

Shares of NYSEAMERICAN DNN opened at $3.12 on Tuesday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -13.57 and a beta of 1.18. The company has a debt-to-equity ratio of 2.81, a quick ratio of 13.46 and a current ratio of 13.77. Denison Mine has a fifty-two week low of $1.67 and a fifty-two week high of $4.43. The firm’s 50-day simple moving average is $3.44 and its 200 day simple moving average is $3.51.

Hedge Funds Weigh In On Denison Mine

Several institutional investors have recently modified their holdings of DNN. Royal Bank of Canada lifted its holdings in Denison Mine by 14.6% during the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock worth $5,613,000 after acquiring an additional 550,064 shares during the period. Millennium Management LLC increased its position in shares of Denison Mine by 11.5% during the 1st quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock valued at $7,423,000 after purchasing an additional 587,352 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Denison Mine by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock valued at $2,194,000 after purchasing an additional 45,125 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Denison Mine by 62.5% during the 1st 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 worth $1,955,000 after purchasing an additional 578,365 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Denison Mine by 29.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company’s stock worth $102,000 after buying an additional 12,705 shares during the last quarter. 36.74% of the stock is owned by 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.