Denison Mines (NYSEAMERICAN:DNN) Reaches New 12-Month Low - What's Next?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $1.27 and last traded at $1.33, with a volume of 15037634 shares trading hands. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DNN shares. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins assumed coverage on shares of Denison Mines in a research report on Friday. They issued a "buy" rating for the company. 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 stock. Based on data from MarketBeat.com, Denison Mines has an average rating of "Buy" and an average price target of $3.00.

Denison Mines Trading Down 4.0 %

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -119.00 and a beta of 1.75. The stock's 50-day moving average is $1.59 and its 200-day moving average is $1.88.

Hedge Funds Weigh In On Denison Mines

Large investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. acquired a new position in shares of Denison Mines during the fourth quarter valued at about $1,939,000. Mackenzie Financial Corp increased its holdings in Denison Mines by 3.9% during the 4th quarter. Mackenzie Financial Corp now owns 450,247 shares of the basic materials company's stock worth $817,000 after purchasing an additional 17,087 shares in the last quarter. Two Sigma Investments LP increased its holdings in Denison Mines by 2.9% during the 4th quarter. Two Sigma Investments LP now owns 586,371 shares of the basic materials company's stock worth $1,055,000 after purchasing an additional 16,310 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Denison Mines by 5.8% in the fourth quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company's stock valued at $18,298,000 after purchasing an additional 558,200 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Denison Mines by 393.3% during the fourth quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock valued at $9,221,000 after buying an additional 4,084,401 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors.

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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.