Denison Mine (NYSEAMERICAN:DNN) Trading Down 6.9% – Should You Sell?

Shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) dropped 6.9% on Thursday . The company traded as low as $2.62 and last traded at $2.6250. Approximately 27,140,305 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 32,707,381 shares. The stock had previously closed at $2.82.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Denison Mine in a research report on Thursday, September 3rd. They set a “buy” rating for the company. Royal Bank Of Canada began coverage on Denison Mine in a research note on Monday, July 13th. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Denison Mine has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Denison Mine Stock Down 6.9%

The company has a debt-to-equity ratio of 2.38, a current ratio of 9.41 and a quick ratio of 9.14. The firm has a market capitalization of $2.38 billion, a P/E ratio of -11.93 and a beta of 1.24. The firm’s fifty day moving average price is $3.13 and its 200-day moving average price is $3.35.

Hedge Funds Weigh In On Denison Mine

Several hedge funds have recently made changes to their positions in the business. Summitry LLC acquired a new position in Denison Mine in the fourth quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Denison Mine in the 2nd quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Denison Mine during the second quarter worth $28,000. Prospera Financial Services Inc purchased a new stake in shares of Denison Mine during the fourth quarter valued at $34,000. Finally, Steelhead Wealth Management LLC acquired a new stake in Denison Mine during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

About Denison Mine

Denison Mines Corp. is a Canadian uranium exploration and development company focused on advancing uranium projects and acquiring interests in uranium-producing assets. Its activities are concentrated primarily in the Athabasca Basin of northern Saskatchewan, Canada, one of the world’s leading uranium-producing regions.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix in-situ recovery uranium project and the Gryphon underground project.