Denison Mines Target of Unusually High Options Trading (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of unusually large options trading activity on Wednesday. Investors purchased 16,918 call options on the company. This is an increase of approximately 327% compared to the typical daily volume of 3,964 call options.

Denison Mines Trading Up 13.1 %

Shares of DNN stock traded up $0.25 during trading hours on Wednesday, hitting $2.18. 53,993,555 shares of the company’s stock were exchanged, compared to its average volume of 16,036,685. The company has a 50-day moving average price of $1.98. Denison Mines has a 52 week low of $1.40 and a 52 week high of $2.47. The firm has a market cap of $1.95 billion, a PE ratio of 36.42 and a beta of 1.71.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, research analysts expect that Denison Mines will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Scotiabank upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, July 2nd. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. CIBC started coverage on shares of Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price on the stock. StockNews.com upgraded Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Finally, Roth Mkm began coverage on Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $2.93.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently made changes to their positions in DNN. Lloyd Harbor Capital Management LLC lifted its position in Denison Mines by 168.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after purchasing an additional 3,875,016 shares during the period. Hood River Capital Management LLC raised its position in shares of Denison Mines by 9.2% during the 2nd quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock valued at $50,275,000 after acquiring an additional 2,138,603 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Denison Mines by 39.9% in the 2nd quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock worth $14,748,000 after purchasing an additional 2,111,912 shares during the last quarter. Cetera Investment Advisers acquired a new stake in shares of Denison Mines during the first quarter worth $1,758,000. Finally, Vident Advisory LLC increased its holdings in Denison Mines by 15.0% in the first quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock valued at $13,191,000 after purchasing an additional 884,599 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

Denison Mines Company Profile

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.