Analysts Set Denison Mines Corp. (NYSEAMERICAN:DNN) Price Target at $2.93

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) have earned a consensus recommendation of “Strong Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $2.93.

A number of analysts have recently issued reports on the stock. CIBC assumed coverage on shares of Denison Mines in a research note on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 target price for the company. Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Finally, Roth Mkm assumed coverage on shares of Denison Mines in a research note on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company.

Denison Mines Trading Up 2.6 %

Denison Mines stock opened at $1.95 on Monday. The company has a market capitalization of $1.74 billion, a P/E ratio of 27.86 and a beta of 1.70. Denison Mines has a 1-year low of $1.40 and a 1-year high of $2.47. The company has a fifty day simple moving average of $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $0.80 million. As a group, analysts predict that Denison Mines will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Denison Mines during the 3rd quarter worth approximately $154,000. Cetera Investment Advisers lifted its position in shares of Denison Mines by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 923,715 shares of the basic materials company’s stock worth $1,838,000 after purchasing an additional 22,405 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Denison Mines by 0.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock worth $20,170,000 after purchasing an additional 46,000 shares during the period. Lloyd Harbor Capital Management LLC lifted its position in shares of Denison Mines by 168.5% in the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after purchasing an additional 3,875,016 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Denison Mines by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock worth $1,378,000 after purchasing an additional 13,144 shares during the period. 36.74% of the stock is owned by institutional investors.

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.