Denison Mines (NYSEAMERICAN:DNN) Receives New Coverage from Analysts at CIBC

CIBC began coverage on shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a sector outperform rating and a $3.25 target price on the basic materials company’s stock.

Several other equities analysts have also recently weighed in on DNN. Scotiabank raised Denison Mines to a strong-buy rating in a research report on Tuesday, July 2nd. Roth Capital raised Denison Mines to a strong-buy rating in a research report on Thursday, June 27th. National Bank Financial raised Denison Mines to a strong-buy rating in a research report on Tuesday, September 3rd. Roth Mkm started coverage on Denison Mines in a research report on Thursday, June 27th. They set a buy rating and a $2.60 price objective for the company. Finally, BMO Capital Markets upgraded Denison Mines from a market perform rating to an outperform rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $2.93.

Denison Mines Stock Down 0.5 %

Shares of NYSEAMERICAN:DNN opened at $1.87 on Thursday. Denison Mines has a fifty-two week low of $1.40 and a fifty-two week high of $2.47. The business has a 50-day moving average of $1.98. The firm has a market capitalization of $1.67 billion, a PE ratio of 26.71 and a beta of 1.70.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, equities analysts forecast that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of Denison Mines

Hedge funds have recently modified their holdings of the company. MMCAP International Inc. SPC raised its holdings in shares of Denison Mines by 37.7% in the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after buying an additional 8,592,121 shares in the last quarter. Lloyd Harbor Capital Management LLC raised its holdings in shares of Denison Mines by 168.5% in the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after buying an additional 3,875,016 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Denison Mines by 9.2% in the 2nd quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after buying an additional 2,138,603 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Denison Mines by 39.9% in the 2nd quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock worth $14,748,000 after buying an additional 2,111,912 shares in the last quarter. Finally, Crestline Management LP acquired a new position in shares of Denison Mines in the 4th quarter worth approximately $1,988,000. Institutional investors own 36.74% of the company’s stock.

Denison Mines Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.