Denison Mine (NYSEAMERICAN:DNN) Rating Lowered to “Strong Sell” at Zacks Research

Denison Mine (NYSEAMERICAN:DNN) (TSE:DML) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Other research analysts have also issued reports about the company. Royal Bank Of Canada assumed coverage on Denison Mine in a research note on Monday, July 13th. They set an “outperform” rating for the company. Jefferies Financial Group initiated coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Denison Mine has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Denison Mine Price Performance

Shares of Denison Mine stock traded down $0.08 during midday trading on Thursday, hitting $2.28. 21,184,293 shares of the company were exchanged, compared to its average volume of 29,025,852. 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 cap of $2.06 billion, a P/E ratio of -10.36 and a beta of 1.37. Denison Mine has a 52 week low of $2.10 and a 52 week high of $4.43. The firm has a 50 day simple moving average of $2.98 and a 200-day simple moving average of $3.21.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of Denison Mine by 22.4% in the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock worth $267,557,000 after acquiring an additional 16,013,484 shares in the last quarter. Renaissance Technologies LLC grew its position in Denison Mine by 275.0% during the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after acquiring an additional 6,934,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Denison Mine during the 2nd quarter valued at $16,541,000. Bank of America Corp DE acquired a new stake in Denison Mine during the 2nd quarter valued at $13,237,000. Finally, Azarias Capital Management L.P. bought a new position in Denison Mine in the 3rd quarter valued at $10,771,000. Institutional investors own 36.74% of the company’s stock.

About Denison Mine

Denison Mines Corp. is a uranium exploration, development and production company focused primarily on the Athabasca Basin in northern Saskatchewan, Canada. The company’s activities include the acquisition, evaluation and advancement of uranium mineral properties, with an emphasis on projects that could support future uranium production.

Denison’s flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Phoenix is being advanced as an in-situ recovery project, while Gryphon is being evaluated as an underground mining operation.