Denison Mines (NYSEAMERICAN:DNN) Lifted to “Outperform” at BMO Capital Markets

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) was upgraded by analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

Several other brokerages have also issued reports on DNN. StockNews.com raised shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Roth Mkm began coverage on shares of Denison Mines in a research note on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective on the stock. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank raised Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. Finally, Roth Capital upgraded Denison Mines to a “strong-buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $2.93.

Denison Mines Stock Performance

NYSEAMERICAN:DNN opened at $1.87 on Wednesday. The firm has a market cap of $1.67 billion, a P/E ratio of 26.71 and a beta of 1.70. The stock’s fifty day moving average price is $1.98. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last issued its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. Analysts forecast that Denison Mines will post -0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DNN. Quadrature Capital Ltd acquired a new position in Denison Mines in the fourth quarter valued at about $1,492,000. MMCAP International Inc. SPC grew its position in shares of Denison Mines by 37.7% in the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock valued at $54,148,000 after purchasing an additional 8,592,121 shares during the period. Headlands Technologies LLC bought a new stake in Denison Mines during the 1st quarter worth approximately $51,000. Van ECK Associates Corp raised its holdings in Denison Mines by 22.2% during the 1st quarter. Van ECK Associates Corp now owns 5,293,313 shares of the basic materials company’s stock worth $10,327,000 after buying an additional 960,585 shares during the period. Finally, Natixis raised its holdings in Denison Mines by 270.5% during the 1st quarter. Natixis now owns 445,808 shares of the basic materials company’s stock worth $869,000 after buying an additional 325,472 shares during the period. 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.