Denison Mines (NYSEAMERICAN:DNN) Sets New 52-Week Low – Time to Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) hit a new 52-week low on Tuesday . The company traded as low as $1.27 and last traded at $1.33, with a volume of 15037634 shares changing hands. The stock had previously closed at $1.30.

Wall Street Analyst Weigh In

Separately, Scotiabank reaffirmed an “outperform” rating on shares of Denison Mines in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Performance

The company’s 50-day simple moving average is $1.62 and its two-hundred day simple moving average is $1.89. The firm has a market cap of $1.16 billion, a PE ratio of -130.00 and a beta of 1.75.

Institutional Trading of Denison Mines

Several large investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. purchased a new position in shares of Denison Mines during the 4th quarter worth approximately $1,939,000. Mackenzie Financial Corp raised its holdings in Denison Mines by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 450,247 shares of the basic materials company’s stock worth $817,000 after purchasing an additional 17,087 shares in the last quarter. Two Sigma Investments LP lifted its position in Denison Mines by 2.9% during the fourth quarter. Two Sigma Investments LP now owns 586,371 shares of the basic materials company’s stock valued at $1,055,000 after buying an additional 16,310 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Denison Mines by 5.8% during the 4th quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company’s stock valued at $18,298,000 after buying an additional 558,200 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Denison Mines by 393.3% in the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock worth $9,221,000 after buying an additional 4,084,401 shares during the period. 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.