Denison Mines (NYSEAMERICAN:DNN) Shares Down 4.4% – Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price was down 4.4% during mid-day trading on Thursday . The company traded as low as $1.85 and last traded at $1.87. Approximately 15,381,955 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 28,199,047 shares. The stock had previously closed at $1.95.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DNN shares. Roth Mkm reissued a “buy” rating and set a $2.75 price objective (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Finally, CIBC began coverage on Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $3.00.

Denison Mines Stock Performance

The stock has a market cap of $1.67 billion, a P/E ratio of -186.50 and a beta of 1.77. The company’s 50 day moving average is $2.00.

Institutional Trading of Denison Mines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segra Capital Management LLC lifted its holdings in Denison Mines by 124.8% during the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after buying an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp lifted its stake in Denison Mines by 96.8% during the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock worth $26,671,000 after purchasing an additional 7,168,934 shares during the last quarter. Lloyd Harbor Capital Management LLC boosted its holdings in 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 worth $12,288,000 after purchasing an additional 3,875,016 shares during the period. The Manufacturers Life Insurance Company increased its stake in Denison Mines by 499.0% during the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock valued at $7,514,000 after purchasing an additional 3,438,790 shares during the last quarter. Finally, Hood River Capital Management LLC raised its holdings in shares of Denison Mines by 9.2% during the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after purchasing an additional 2,138,603 shares during the period. 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.