Denison Mines (NYSEAMERICAN:DNN) Upgraded at Scotiabank

Scotiabank upgraded shares of Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other research analysts have also recently weighed in on the company. StockNews.com upgraded Denison Mines to a sell rating in a report on Sunday, May 19th. Roth Mkm initiated coverage on Denison Mines in a research note on Thursday, June 27th. They set a buy rating and a $2.60 price objective on the stock. Finally, Roth Capital upgraded Denison Mines to a strong-buy rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $2.60.

Denison Mines Stock Performance

Shares of Denison Mines stock opened at $2.12 on Tuesday. Denison Mines has a twelve month low of $1.15 and a twelve month high of $2.47. The firm has a market capitalization of $1.89 billion, a P/E ratio of 30.29 and a beta of 1.73.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its earnings results on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Denison Mines had a return on equity of 12.96% and a net margin of 888.36%. The firm had revenue of $0.62 million for the quarter. As a group, equities research analysts predict that Denison Mines will post -0.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DNN. Glenorchy Capital Ltd acquired a new position in shares of Denison Mines in the fourth quarter worth about $25,000. Avantax Advisory Services Inc. lifted its stake in shares of Denison Mines by 47.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 18,600 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 6,000 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Denison Mines in the fourth quarter worth about $34,000. &PARTNERS acquired a new position in shares of Denison Mines in the first quarter worth about $34,000. Finally, Anchor Investment Management LLC acquired a new position in shares of Denison Mines in the fourth quarter worth about $46,000. Institutional investors and hedge funds 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.