Stock Traders Buy Large Volume of Denison Mines Call Options (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 24,362 call options on the company. This is an increase of approximately 301% compared to the typical volume of 6,074 call options.

Institutional Trading of Denison Mines

Several hedge funds and other institutional investors have recently bought and sold shares of DNN. BNP Paribas Financial Markets bought a new stake in shares of Denison Mines during the 3rd quarter valued at $505,000. National Bank of Canada FI increased its holdings in Denison Mines by 89.1% in the 3rd quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company’s stock valued at $1,708,000 after buying an additional 440,921 shares during the period. Goehring & Rozencwajg Associates LLC raised its position in shares of Denison Mines by 15.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock valued at $7,124,000 after buying an additional 479,600 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Denison Mines by 78.5% during the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 14,688 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Denison Mines by 499.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after acquiring an additional 3,438,790 shares in the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mines Trading Down 2.2 %

DNN traded down $0.04 during trading on Tuesday, hitting $1.80. The stock had a trading volume of 15,151,716 shares, compared to its average volume of 17,159,035. Denison Mines has a one year low of $1.40 and a one year high of $2.47. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -180.00 and a beta of 1.71. The stock has a 50 day simple moving average of $2.02.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. CIBC initiated coverage on shares of Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 target price on the stock. Roth Mkm reaffirmed a “buy” rating and set a $2.75 price target (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. 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, Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $3.00.

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.