Denison Mines (NYSEAMERICAN:DNN) Stock Price Up 5.2% - Still a Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML shares shot up 5.2% on Friday . The company traded as high as $2.43 and last traded at $2.42. 3,708,066 shares changed hands during trading, a decline of 78% from the average session volume of 16,879,379 shares. The stock had previously closed at $2.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. CIBC started coverage on Denison Mines in a research note on Thursday, September 26th. They set a "sector outperform" rating and a $3.25 price objective for the company. National Bank Financial upgraded Denison Mines to a "strong-buy" rating in a report on Tuesday, September 3rd. BMO Capital Markets raised Denison Mines from a "market perform" rating to an "outperform" rating in a research note on Wednesday, September 25th. Roth Mkm reiterated a "buy" rating and issued a $2.75 price target (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, Cibc World Mkts upgraded shares of Denison Mines to a "strong-buy" rating in a report on Thursday, September 26th. One 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $3.00.

Denison Mines Stock Performance

The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -236.00 and a beta of 1.69. The business has a fifty day simple moving average of $2.00.

Hedge Funds Weigh In On Denison Mines

Institutional investors have recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC acquired a new position in Denison Mines during the third quarter worth approximately $27,000. RPS Advisory Solutions LLC bought a new position in shares of Denison Mines during the 2nd quarter worth approximately $46,000. Legacy Capital Group California Inc. increased its holdings in shares of Denison Mines by 131.7% during the 2nd quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company's stock worth $46,000 after acquiring an additional 13,248 shares during the last quarter. Toronto Dominion Bank raised its stake in Denison Mines by 39.4% in the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company's stock valued at $48,000 after acquiring an additional 6,777 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in Denison Mines by 78.5% during the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company's stock valued at $61,000 after purchasing an additional 14,688 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

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.