Denison Mines Corp. (NYSEAMERICAN:DNN) Given Consensus Rating of “Strong Buy” by Brokerages

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have been assigned an average rating of “Strong Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $3.00.

A number of equities analysts have commented on the company. StockNews.com upgraded Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. 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. CIBC initiated coverage on shares of Denison Mines in a report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price on the stock. Finally, BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th.

Denison Mines Price Performance

Shares of DNN opened at $2.26 on Tuesday. Denison Mines has a 12 month low of $1.40 and a 12 month high of $2.47. The stock’s 50 day simple moving average is $1.99. The company has a market capitalization of $2.02 billion, a PE ratio of -226.00 and a beta of 1.69.

Hedge Funds Weigh In On Denison Mines

A number of institutional investors have recently added to or reduced their stakes in the stock. Segra Capital Management LLC raised its position in Denison Mines by 124.8% in the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after purchasing an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Denison Mines by 96.8% in the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock valued at $26,671,000 after buying an additional 7,168,934 shares during the period. Lloyd Harbor Capital Management LLC raised its holdings in 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 valued at $12,288,000 after buying an additional 3,875,016 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Denison Mines by 499.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after acquiring an additional 3,438,790 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position in 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 acquiring an additional 2,138,603 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.

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.