Denison Mines (NYSEAMERICAN:DNN) Trading Down 5% – Time to Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s share price traded down 5% on Monday . The company traded as low as $2.27 and last traded at $2.27. 23,353,904 shares were traded during trading, an increase of 38% from the average session volume of 16,888,727 shares. The stock had previously closed at $2.39.

Wall Street Analyst Weigh In

DNN has been the subject of a number of recent analyst reports. StockNews.com raised Denison Mines to a “sell” rating in a research report on Wednesday, July 31st. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Roth Mkm reissued a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. CIBC assumed coverage on shares of Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price target for the company. Finally, National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $3.00.

Denison Mines Stock Down 3.1 %

The stock has a 50-day moving average of $2.00. The company has a market capitalization of $2.07 billion, a PE ratio of -232.00 and a beta of 1.69.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Integrated Investment Consultants LLC acquired a new position in Denison Mines during the 3rd quarter worth $27,000. RPS Advisory Solutions LLC bought a new stake in Denison Mines in the second quarter valued at about $46,000. Legacy Capital Group California Inc. raised its stake 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 valued at $46,000 after buying an additional 13,248 shares in the last quarter. Toronto Dominion Bank lifted its holdings in 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, Continuum Advisory LLC grew its position in shares of Denison Mines by 78.5% in the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 14,688 shares in the last quarter. 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.