Brokerages Set Denison Mines Corp. (NYSEAMERICAN:DNN) Price Target at $2.93

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) has been assigned a consensus recommendation of “Strong Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.93.

Several equities research analysts have weighed in on DNN shares. Roth Mkm started coverage on Denison Mines in a research note on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. BMO Capital Markets upgraded Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. StockNews.com upgraded Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Finally, Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd.

Institutional Investors Weigh In On Denison Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNN. TD Asset Management Inc increased its stake in Denison Mines by 4.5% in the 4th quarter. TD Asset Management Inc now owns 2,327,927 shares of the basic materials company’s stock valued at $4,096,000 after buying an additional 99,667 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Denison Mines by 3.7% during the 4th quarter. Bank of Nova Scotia now owns 1,590,966 shares of the basic materials company’s stock worth $2,786,000 after purchasing an additional 57,087 shares during the last quarter. Rathbones Group PLC increased its stake in shares of Denison Mines by 30.5% during the 4th quarter. Rathbones Group PLC now owns 85,500 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 20,000 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Denison Mines by 9.8% during the 4th quarter. CIBC Asset Management Inc now owns 812,783 shares of the basic materials company’s stock worth $1,428,000 after purchasing an additional 72,490 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Denison Mines during the 4th quarter worth approximately $1,492,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Trading Up 0.5 %

Shares of NYSEAMERICAN:DNN opened at $1.91 on Monday. Denison Mines has a 12-month low of $1.40 and a 12-month high of $2.47. The company has a market capitalization of $1.70 billion, a PE ratio of 27.21 and a beta of 1.70. The stock’s 50 day moving average price is $1.98.

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

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.