Denison Mines (NYSEAMERICAN:DNN) Reaches New 12-Month Low – Should You Sell?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $1.27 and last traded at $1.33, with a volume of 15037634 shares. The stock had previously closed at $1.30.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reiterated an “outperform” rating on shares of Denison Mines in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

The stock has a 50 day moving average price of $1.62 and a 200 day moving average price of $1.89. The company has a market capitalization of $1.16 billion, a P/E ratio of -130.00 and a beta of 1.75.

Hedge Funds Weigh In On Denison Mines

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oxford Asset Management LLP purchased a new position in Denison Mines in the 4th quarter valued at approximately $26,000. Vantage Point Financial LLC bought a new position in Denison Mines in the 4th quarter worth about $34,000. Commonwealth Equity Services LLC grew its holdings in Denison Mines by 74.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock valued at $36,000 after buying an additional 8,500 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Denison Mines during the fourth quarter valued at about $38,000. Finally, Bayesian Capital Management LP purchased a new stake in Denison Mines in the 4th quarter worth approximately $44,000. 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.