Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 6% - Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML dropped 6% on Friday . The company traded as low as $1.64 and last traded at $1.65. Approximately 31,469,887 shares changed hands during trading, a decline of 19% from the average daily volume of 38,890,375 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, Roth Mkm restated 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 research analyst has rated the stock with a sell rating, three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Denison Mines presently has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mines Price Performance

The company has a market capitalization of $1.46 billion, a P/E ratio of -163.50 and a beta of 1.75. The company's fifty day moving average is $1.97.

Hedge Funds Weigh In On Denison Mines

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its position in shares of Denison Mines by 74.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 8,500 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Denison Mines by 35.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock worth $61,000 after buying an additional 8,783 shares during the period. Legacy Capital Group California Inc. increased its stake in shares of Denison Mines by 26.2% in the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 9,002 shares in the last quarter. Confluence Investment Management LLC lifted its position in shares of Denison Mines by 3.8% during the 4th quarter. Confluence Investment Management LLC now owns 267,217 shares of the basic materials company's stock valued at $481,000 after acquiring an additional 9,831 shares during the period. Finally, Old West Investment Management LLC grew its holdings in Denison Mines by 0.7% in the fourth quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company's stock worth $2,611,000 after purchasing an additional 10,251 shares during the period. 36.74% of the stock is currently owned by institutional investors.

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.