Traders Buy High Volume of Call Options on Denison Mines (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of some unusual options trading on Tuesday. Stock traders bought 24,362 call options on the stock. This represents an increase of 301% compared to the average daily volume of 6,074 call options.

Denison Mines Price Performance

NYSEAMERICAN:DNN traded down $0.04 during mid-day trading on Tuesday, hitting $1.80. The stock had a trading volume of 15,151,716 shares, compared to its average volume of 17,159,035. Denison Mines has a 52 week low of $1.40 and a 52 week high of $2.47. The stock has a market capitalization of $1.61 billion, a PE ratio of -180.00 and a beta of 1.71. The stock’s 50 day moving average is $2.02.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price for the company. Finally, National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Denison Mines has an average rating of “Buy” and a consensus price target of $3.00.

Institutional Investors Weigh In On Denison Mines

Several large investors have recently made changes to their positions in DNN. Hood River Capital Management LLC raised 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 worth $50,275,000 after purchasing an additional 2,138,603 shares during the last quarter. Segra Capital Management LLC raised its position in shares of Denison Mines by 124.8% during the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after acquiring an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Denison Mines by 96.8% during 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 acquiring an additional 7,168,934 shares during the period. Point72 Asset Management L.P. boosted its holdings in Denison Mines by 0.5% in the second quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock valued at $20,170,000 after acquiring an additional 46,000 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in Denison Mines by 10.2% in the third quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company’s stock worth $15,298,000 after purchasing an additional 774,441 shares during the period. Institutional investors own 36.74% of the company’s stock.

About Denison Mines

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.