Traders Buy Large Volume of Denison Mines Call Options (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of some unusual options trading on Wednesday. Investors bought 6,898 call options on the stock. This is an increase of approximately 102% compared to the average volume of 3,416 call options.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DNN. Roth Capital raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, June 27th. National Bank Financial raised Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Roth Mkm started coverage on Denison Mines in a research report on Thursday, June 27th. They issued a “buy” rating and a $2.60 price objective for the company. Scotiabank upgraded Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. Finally, CIBC assumed coverage on Denison Mines in a report on Thursday. They issued a “sector outperform” rating and a $3.25 price target for the company. One 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $2.93.

Institutional Investors Weigh In On Denison Mines

Several institutional investors have recently added to or reduced their stakes in DNN. Cetera Investment Advisers grew its holdings in shares of Denison Mines by 2.5% during the second quarter. Cetera Investment Advisers now owns 923,715 shares of the basic materials company’s stock worth $1,838,000 after buying an additional 22,405 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Denison Mines by 0.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock worth $20,170,000 after acquiring an additional 46,000 shares in the last quarter. Lloyd Harbor Capital Management LLC raised its holdings in shares of Denison Mines by 168.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after purchasing an additional 3,875,016 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Denison Mines by 1.9% in 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 purchasing an additional 13,144 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Denison Mines by 39.4% in the second quarter. Toronto Dominion Bank now owns 23,969 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 6,777 shares in the last quarter. 36.74% of the stock is owned by institutional investors.

Denison Mines Stock Down 0.5 %

Denison Mines stock opened at $1.87 on Friday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 26.71 and a beta of 1.70. The business’s 50 day moving average price is $1.98. Denison Mines has a fifty-two week low of $1.40 and a fifty-two week high of $2.47.

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

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.