Denison Mines (NYSEAMERICAN:DNN) Trading Up 5.1% - Should You Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares were up 5.1% during mid-day trading on Wednesday . The company traded as high as $1.35 and last traded at $1.34. Approximately 17,579,506 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 28,590,464 shares. The stock had previously closed at $1.27.

Wall Street Analysts Forecast Growth

DNN has been the topic of several recent research reports. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a research report on Tuesday, March 25th. Desjardins started coverage on shares of Denison Mines in a report on Friday, April 4th. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, five have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Stock Up 3.8 %

The business's 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.83. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -138.00 and a beta of 1.75.

Institutional Trading of Denison Mines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNN. Oxford Asset Management LLP acquired a new stake in shares of Denison Mines during the fourth quarter worth about $26,000. Vantage Point Financial LLC acquired a new stake in Denison Mines during the 4th quarter worth approximately $34,000. Commonwealth Equity Services LLC lifted its holdings in 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 worth $36,000 after buying an additional 8,500 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Denison Mines in the 1st quarter valued at approximately $26,000. Finally, Headlands Technologies LLC acquired a new position in shares of Denison Mines in the fourth quarter worth $38,000. Hedge funds and other 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.