Denison Mines (NYSEAMERICAN:DNN) Trading Down 3.1% - Here's What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was down 3.1% on Tuesday . The company traded as low as $1.87 and last traded at $1.89. Approximately 3,497,871 shares were traded during trading, a decline of 80% from the average daily volume of 17,149,469 shares. The stock had previously closed at $1.95.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upgraded shares of Denison Mines from a "market perform" rating to an "outperform" rating in a research report on Wednesday, September 25th. Cibc World Mkts raised shares of Denison Mines to a "strong-buy" rating in a report on Thursday, September 26th. Roth Mkm reissued 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. CIBC started coverage on Denison Mines in a report on Thursday, September 26th. They set a "sector outperform" rating and a $3.25 price target for the company. Finally, National Bank Financial raised Denison Mines to a "strong-buy" rating in a research note on Tuesday, September 3rd. One investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Stock Down 3.6 %

The firm has a market cap of $1.68 billion, a P/E ratio of -188.00 and a beta of 1.71. The firm has a fifty day moving average price of $2.02.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Integrated Investment Consultants LLC bought a new position in Denison Mines in the third quarter valued at approximately $27,000. Toronto Dominion Bank grew its stake in shares of Denison Mines by 39.4% in the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company's stock valued at $48,000 after buying an additional 6,777 shares in the last quarter. Continuum Advisory LLC increased its holdings in Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company's stock worth $61,000 after buying an additional 14,688 shares during the last quarter. Legacy Capital Group California Inc. increased its holdings in Denison Mines by 47.5% during the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company's stock worth $63,000 after buying an additional 11,066 shares during the last quarter. Finally, SevenBridge Financial Group LLC raised its position in Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company's stock worth $68,000 after acquiring an additional 13,000 shares in the last quarter. Institutional investors own 36.74% of the company's stock.

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.