Denison Mines (NYSEAMERICAN:DNN) Shares Gap Up – What’s Next?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price gapped up before the market opened on Monday . The stock had previously closed at $2.09, but opened at $2.18. Denison Mines shares last traded at $2.19, with a volume of 3,925,859 shares.

Analysts Set New Price Targets

Several equities analysts have recently commented on DNN shares. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Roth Mkm restated a “buy” rating and set a $2.75 price objective (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, CIBC began coverage on shares of Denison Mines in a research note on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

The business’s fifty day moving average is $1.99. The company has a market cap of $2.07 billion, a P/E ratio of -230.00 and a beta of 1.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DNN. Toronto Dominion Bank lifted its holdings in shares of Denison Mines by 39.4% during the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 6,777 shares during the period. Legacy Capital Group California Inc. lifted its holdings in shares of Denison Mines by 47.5% during the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 11,066 shares during the period. SevenBridge Financial Group LLC lifted its holdings in shares of Denison Mines by 54.2% during the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 13,000 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Denison Mines by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 689,160 shares of the basic materials company’s stock valued at $1,378,000 after acquiring an additional 13,144 shares during the period. Finally, Arlington Capital Management Inc. lifted its holdings in shares of Denison Mines by 3.2% during the third quarter. Arlington Capital Management Inc. now owns 441,192 shares of the basic materials company’s stock valued at $807,000 after acquiring an additional 13,481 shares during the period. 36.74% of the stock is owned by institutional investors.

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.