Denison Mines (NYSEAMERICAN:DNN) Shares Cross Above 200 Day Moving Average - What's Next?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML's stock price 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 traded.

Wall Street Analyst Weigh In

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

Denison Mines Stock Performance

The firm's 50-day simple moving average is $1.99. The company has a market cap of $1.57 billion, a P/E ratio of -175.00 and a beta of 1.75.

Institutional Trading of Denison Mines

Several large investors have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC acquired a new position in shares of Denison Mines in the third quarter worth $27,000. Vantage Point Financial LLC bought a new stake in Denison Mines in the fourth quarter worth $34,000. Fiduciary Family Office LLC bought a new stake in Denison Mines in the fourth quarter worth $50,000. Continuum Advisory LLC boosted its holdings in Denison Mines by 78.5% in the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company's stock worth $61,000 after purchasing an additional 14,688 shares in the last quarter. Finally, Legacy Capital Group California Inc. boosted its holdings in Denison Mines by 47.5% in the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company's stock worth $63,000 after purchasing an additional 11,066 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

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.