Investors Buy High Volume of Denison Mines Call Options (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of unusually large options trading activity on Wednesday. Traders bought 2,494 call options on the stock. This represents an increase of 290% compared to the average daily volume of 639 call options.

Several research firms recently commented on DNN. TD Securities cut shares of Denison Mines from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Canaccord Genuity raised their price target on shares of Denison Mines from $0.90 to $1.10 and gave the stock a “buy” rating in a report on Thursday, January 21st. Finally, Raymond James raised their price target on shares of Denison Mines from $1.15 to $1.20 and gave the stock a “market perform” rating in a report on Wednesday.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Old West Investment Management LLC lifted its stake in shares of Denison Mines by 0.8% in the third quarter. Old West Investment Management LLC now owns 15,802,861 shares of the basic materials company’s stock worth $6,425,000 after buying an additional 131,322 shares during the last quarter. Morgan Stanley lifted its stake in shares of Denison Mines by 13.9% in the third quarter. Morgan Stanley now owns 5,351,951 shares of the basic materials company’s stock worth $2,175,000 after buying an additional 654,135 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Denison Mines by 118.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,520,116 shares of the basic materials company’s stock worth $2,278,000 after buying an additional 1,910,619 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Denison Mines by 3.7% in the third quarter. Cetera Advisors LLC now owns 1,441,602 shares of the basic materials company’s stock worth $586,000 after buying an additional 51,096 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its stake in shares of Denison Mines by 137.8% in the fourth quarter. CIBC World Markets Inc. now owns 880,658 shares of the basic materials company’s stock worth $570,000 after buying an additional 510,292 shares during the last quarter. Hedge funds and other institutional investors own 11.94% of the company’s stock.

NYSEAMERICAN DNN opened at $1.06 on Friday. The firm has a market capitalization of $719.72 million, a PE ratio of -53.00 and a beta of 2.16. The company has a 50 day simple moving average of $0.51. Denison Mines has a 12-month low of $0.19 and a 12-month high of $1.27.

Denison Mines Company Profile

Denison Mines Corp. operates as a uranium exploration and development company in Canada. Its flagship project is the 90% interest owned Wheeler River Uranium project 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.

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