Denison Mines (NYSEAMERICAN:DNN) Trading 3.9% Higher – Time to Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) traded up 3.9% on Friday . The company traded as high as $2.19 and last traded at $2.15. 8,147,553 shares were traded during trading, a decline of 51% from the average session volume of 16,474,199 shares. The stock had previously closed at $2.07.

Wall Street Analysts Forecast Growth

Several analysts have commented on DNN shares. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Roth Mkm reissued a “buy” rating and issued a $2.75 price objective (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. CIBC began 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 for the company. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Finally, National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

The firm has a 50-day moving average price of $1.99.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Investment Consultants LLC acquired a new stake in Denison Mines during the 3rd quarter worth $27,000. RPS Advisory Solutions LLC acquired a new position in Denison Mines in the second quarter valued at approximately $46,000. Legacy Capital Group California Inc. raised its holdings in Denison Mines by 131.7% during the second quarter. Legacy Capital Group California Inc. now owns 23,306 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 13,248 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Denison Mines by 39.4% during the 2nd quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after buying an additional 6,777 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Denison Mines in the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

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.