FY2024 EPS Estimates for Denison Mines Reduced by Analyst

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) – Research analysts at Scotiabank dropped their FY2024 earnings estimates for shares of Denison Mines in a report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the basic materials company will post earnings per share of ($0.07) for the year, down from their prior forecast of ($0.06). The consensus estimate for Denison Mines’ current full-year earnings is ($0.06) per share. Scotiabank also issued estimates for Denison Mines’ FY2025 earnings at ($0.03) EPS and FY2026 earnings at ($0.03) EPS.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. CIBC assumed coverage on shares of Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. Roth Mkm reaffirmed a “buy” rating and set a $2.75 price objective (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $3.00.

Denison Mines Price Performance

Shares of NYSEAMERICAN DNN opened at $1.95 on Friday. The business’s 50 day moving average price is $2.00. The firm has a market cap of $1.74 billion, a P/E ratio of -195.00 and a beta of 1.71. Denison Mines has a 1 year low of $1.40 and a 1 year high of $2.47.

Hedge Funds Weigh In On Denison Mines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rathbones Group PLC raised its holdings in shares of Denison Mines by 66.0% in the 2nd quarter. Rathbones Group PLC now owns 96,300 shares of the basic materials company’s stock valued at $193,000 after purchasing an additional 38,300 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Denison Mines by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 784,554 shares of the basic materials company’s stock valued at $1,562,000 after purchasing an additional 132,141 shares in the last quarter. Old West Investment Management LLC raised its holdings in shares of Denison Mines by 1.2% in the 2nd quarter. Old West Investment Management LLC now owns 1,437,886 shares of the basic materials company’s stock valued at $2,861,000 after purchasing an additional 17,648 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its holdings in shares of Denison Mines by 15.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock valued at $7,124,000 after purchasing an additional 479,600 shares in the last quarter. Finally, 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 valued at $50,275,000 after purchasing an additional 2,138,603 shares in the last quarter. Hedge funds and other 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.