Desjardins Initiates Coverage on Denison Mines (NYSEAMERICAN:DNN)

Desjardins began coverage on shares of Denison Mines (NYSEAMERICAN:DNN - Free Report) TSE: DML in a research report report published on Friday, Marketbeat.com reports. The firm issued a buy rating on the basic materials company's stock.

Separately, Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Stock Performance

DNN stock traded up $0.10 during trading on Friday, hitting $1.25. The stock had a trading volume of 56,918,074 shares, compared to its average volume of 27,608,298. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -124.50 and a beta of 1.75. The company's 50 day moving average price is $1.55 and its two-hundred day moving average price is $1.87. Denison Mines has a 1-year low of $1.08 and a 1-year high of $2.47.

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Hedge Funds Weigh In On Denison Mines

Several large investors have recently modified their holdings of the stock. Oxford Asset Management LLP bought a new stake in Denison Mines during the fourth quarter valued at $26,000. Vantage Point Financial LLC acquired a new position in shares of Denison Mines in the 4th quarter valued at about $34,000. Commonwealth Equity Services LLC raised its stake in Denison Mines by 74.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock worth $36,000 after acquiring an additional 8,500 shares during the period. Headlands Technologies LLC bought a new position in Denison Mines in the fourth quarter worth about $38,000. Finally, Bayesian Capital Management LP bought a new position in Denison Mines in the fourth quarter worth about $44,000. 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.