Denison Mines (NYSEAMERICAN:DNN) Shares Pass Above 200 Day Moving Average - Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.93. Denison Mines shares last traded at $1.92, with a volume of 37,266,441 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a "buy" rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $3.00.

Denison Mines Price Performance

The firm has a 50 day moving average price of $1.99. The company has a market capitalization of $1.67 billion, a P/E ratio of -186.00 and a beta of 1.75.

Hedge Funds Weigh In On Denison Mines

Several hedge funds have recently added to or reduced their stakes in the stock. Segra Capital Management LLC lifted its stake 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 buying an additional 10,140,540 shares in the last quarter. Van ECK Associates Corp lifted its position in Denison Mines by 96.8% in the 3rd 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 in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Denison Mines by 499.0% in 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 purchasing an additional 3,438,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Denison Mines by 41.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company's stock worth $5,989,000 after purchasing an additional 963,100 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Denison Mines by 6,560.7% in the 3rd quarter. XTX Topco Ltd now owns 802,020 shares of the basic materials company's stock valued at $1,468,000 after purchasing an additional 789,979 shares during the period. Institutional investors and hedge funds 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.