Denison Mines (NYSEAMERICAN:DNN) Stock Price Down 3.4% - Here's Why

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was down 3.4% during mid-day trading on Monday . The company traded as low as $2.28 and last traded at $2.30. Approximately 3,842,828 shares traded hands during trading, a decline of 76% from the average daily volume of 16,200,526 shares. The stock had previously closed at $2.38.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DNN shares. CIBC started coverage on shares of Denison Mines in a report on Thursday, September 26th. They set a "sector outperform" rating and a $3.25 price objective for the company. StockNews.com upgraded shares of Denison Mines to a "sell" rating in a report on Wednesday, July 31st. National Bank Financial upgraded shares of Denison Mines to a "strong-buy" rating in a report on Tuesday, September 3rd. Roth Capital upgraded shares of Denison Mines to a "strong-buy" rating in a report on Thursday, June 27th. Finally, Scotiabank upgraded shares of Denison Mines to a "strong-buy" rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $2.93.

Denison Mines Trading Down 4.2 %

The firm's 50-day moving average is $1.99. The firm has a market capitalization of $2.04 billion, a P/E ratio of 38.00 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN - Get Free Report) TSE: DML last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Equities research analysts predict that Denison Mines Corp. will post -0.06 earnings per share for the current year.

Institutional Trading of Denison Mines

Hedge funds and other institutional investors have recently bought and sold shares of the company. &PARTNERS purchased a new position in Denison Mines in the 1st quarter worth approximately $34,000. Legacy Capital Group California Inc. grew its stake in Denison Mines by 131.7% in the 2nd quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company's stock worth $46,000 after buying an additional 13,248 shares in the last quarter. RPS Advisory Solutions LLC purchased a new position in Denison Mines in the 2nd quarter worth approximately $46,000. Toronto Dominion Bank grew 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 worth $48,000 after buying an additional 6,777 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Denison Mines in the 1st quarter worth approximately $51,000. 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.