Denison Mines (NYSEAMERICAN:DNN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.93. Denison Mines shares last traded at $1.92, with a volume of 37,266,441 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $2.75 price target (up previously from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3.00.

Denison Mines Stock Performance

The company has a market capitalization of $1.63 billion, a PE ratio of -182.00 and a beta of 1.77. The business has a 50-day moving average of $2.00.

Institutional Investors Weigh In On Denison Mines

A number of large investors have recently added to or reduced their stakes in DNN. Segra Capital Management LLC raised its stake in shares of Denison Mines by 124.8% in the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after purchasing an additional 10,140,540 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Denison Mines by 96.8% in the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock valued at $26,671,000 after purchasing an additional 7,168,934 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Denison Mines by 499.0% in the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock valued at $7,514,000 after purchasing an additional 3,438,790 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Denison Mines by 41.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company’s stock valued at $5,989,000 after purchasing an additional 963,100 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Denison Mines by 6,560.7% in the third quarter. XTX Topco Ltd now owns 802,020 shares of the basic materials company’s stock valued at $1,468,000 after purchasing an additional 789,979 shares in the last quarter. Institutional investors own 36.74% of the company’s stock.

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.