Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up - Time to Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML gapped up before the market opened on Monday . The stock had previously closed at $2.09, but opened at $2.18. Denison Mines shares last traded at $2.19, with a volume of 3,925,859 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DNN shares. Roth Mkm reiterated a "buy" rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. Cibc World Mkts upgraded shares of Denison Mines to a "strong-buy" rating in a research report on Thursday, September 26th. National Bank Financial upgraded shares of Denison Mines to a "strong-buy" rating in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Denison Mines to a "sell" rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets upgraded Denison Mines from a "market perform" rating to an "outperform" rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Denison Mines currently has an average rating of "Buy" and an average target price of $3.00.

Denison Mines Stock Up 8.1 %

The stock's 50-day simple moving average is $1.99. The company has a market capitalization of $2.02 billion, a PE ratio of -227.00 and a beta of 1.69.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds and other institutional investors have recently made changes to their positions in DNN. Natixis grew its stake in Denison Mines by 270.5% in the 1st quarter. Natixis now owns 445,808 shares of the basic materials company's stock worth $869,000 after acquiring an additional 325,472 shares during the period. Cetera Investment Advisers purchased a new position in Denison Mines during the first quarter worth about $1,758,000. Goehring & Rozencwajg Associates LLC boosted its stake in Denison Mines by 15.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company's stock worth $7,124,000 after buying an additional 479,600 shares during the last quarter. Tidal Investments LLC grew its holdings in Denison Mines by 53.9% in the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company's stock valued at $78,000 after buying an additional 14,018 shares during the period. Finally, Azarias Capital Management L.P. increased its stake in shares of Denison Mines by 17.0% during the 2nd quarter. Azarias Capital Management L.P. now owns 3,406,586 shares of the basic materials company's stock valued at $6,779,000 after acquiring an additional 496,182 shares during the last quarter. Hedge funds and other institutional investors 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.