Traders Purchase Large Volume of Call Options on Denison Mine (NYSEAMERICAN:DNN)

Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) saw some unusual options trading on Thursday. Traders bought 10,673 call options on the company. This represents an increase of approximately 51% compared to the average volume of 7,057 call options.

Analysts Set New Price Targets

DNN has been the topic of a number of research analyst reports. Desjardins upgraded Denison Mine to a “moderate buy” rating in a research report on Monday, August 18th. Scotiabank restated an “outperform” rating on shares of Denison Mine in a research report on Thursday, August 7th. TD Securities reiterated a “buy” rating on shares of Denison Mine in a report on Monday, August 11th. Raymond James Financial reiterated an “outperform” rating on shares of Denison Mine in a report on Monday, August 18th. Finally, National Bankshares reiterated an “outperform” rating on shares of Denison Mine in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $3.00.

Institutional Trading of Denison Mine

Hedge funds and other institutional investors have recently modified their holdings of the business. WealthShield Partners LLC increased its position in shares of Denison Mine by 50.0% during the second quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 6,000 shares during the last quarter. Sowell Financial Services LLC acquired a new position in shares of Denison Mine during the first quarter worth approximately $26,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Denison Mine during the second quarter worth approximately $38,000. R Squared Ltd acquired a new stake in Denison Mine in the second quarter worth approximately $39,000. Finally, Advisory Alpha LLC acquired a new stake in Denison Mine in the second quarter worth approximately $40,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mine Stock Performance

Shares of NYSEAMERICAN:DNN opened at $2.43 on Friday. Denison Mine has a one year low of $1.08 and a one year high of $2.50. The stock has a market cap of $2.18 billion, a PE ratio of -40.50 and a beta of 1.38. The business’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $1.71.

About Denison Mine

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.