Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 5% - Here's Why

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML fell 5% on Tuesday . The stock traded as low as $1.43 and last traded at $1.44. 33,194,485 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 49,155,410 shares. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

Separately, Scotiabank restated an "outperform" rating on shares of Denison Mines in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Denison Mines currently has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mines Stock Down 4.3 %

The stock's fifty day moving average is $1.66 and its 200-day moving average is $1.91. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -133.00 and a beta of 1.75.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Alyeska Investment Group L.P. bought a new stake in Denison Mines during the 4th quarter worth about $35,837,000. Segra Capital Management LLC boosted its position in 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 valued at $33,431,000 after purchasing an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp grew its stake in Denison Mines by 43.3% in the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock valued at $37,595,000 after purchasing an additional 6,305,332 shares in the last quarter. Millennium Management LLC increased its position in shares of Denison Mines by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock worth $9,221,000 after purchasing an additional 4,084,401 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Denison Mines by 116.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock valued at $12,932,000 after buying an additional 3,838,504 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.