Denison Mine (NYSEAMERICAN:DNN) Hits New 52-Week Low – Here’s Why

by · The Cerbat Gem

Denison Mine Corp (NYSEAMERICAN:DNN – Get Free Report) (TSE:DML)’s share price reached a new 52-week low during trading on Tuesday. The company traded as low as $2.10 and last traded at $2.1050, with a volume of 12,032,840 shares. The stock had previously closed at $2.13.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DNN. Jefferies Financial Group initiated coverage on Denison Mine in a research note on Thursday, September 3rd. They issued a “buy” rating for the company. Royal Bank Of Canada began coverage on Denison Mine in a research report on Monday, July 13th. They set an “outperform” rating on the stock. Finally, Zacks Research downgraded Denison Mine from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Denison Mine presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Check Out Our Latest Report on DNN

Denison Mine Trading Down 2.4%

The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $1.87 billion, a PE ratio of -9.36 and a beta of 1.36. The stock has a 50 day moving average price of $2.69 and a 200-day moving average price of $3.30.

Denison Mine (NYSEAMERICAN:DNN – Get Free Report) (TSE:DML) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). Denison Mine had a negative return on equity of 24.82% and a negative net margin of 6,750.40%. The company had revenue of $2.32 million during the quarter, compared to analysts’ expectations of $2.32 million. Sell-side analysts expect that Denison Mine Corp will post -0.06 earnings per share for the current year.

Institutional Investors Weigh In On Denison Mine

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG bought a new position in shares of Denison Mine in the 2nd quarter worth approximately $5,096,000. Azarias Capital Management L.P. bought a new stake in Denison Mine during the third quarter valued at approximately $10,771,000. Bank of America Corp DE grew its position in Denison Mine by 77.4% during the first quarter. Bank of America Corp DE now owns 1,743,780 shares of the basic materials company’s stock valued at $6,156,000 after buying an additional 760,719 shares during the period. Tidal Investments LLC grew its position in Denison Mine by 210.5% during the second quarter. Tidal Investments LLC now owns 1,446,030 shares of the basic materials company’s stock valued at $4,425,000 after buying an additional 980,277 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in Denison Mine by 19.4% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock valued at $16,664,000 after buying an additional 767,863 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

About Denison Mine

(Get Free Report)

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada’s Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison’s activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.

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