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Why To Invest In Denison Mines Corp. (AMEX: DNN) Stock?

In the last trading session, 13.43 million Denison Mines Corp. (AMEX:DNN) shares changed hands as the company’s beta touched 1.82. With the company’s per share price at $1.65 changed hands at $0.0 or 0.00% during last session, the market valuation stood at $1.32B. The share price had its 52-week low at $0.92, which suggests the last value was 44.24% up since then. When we look at Denison Mines Corp.’s average trading volume, we note the 10-day average is 10.42 million shares, with the 3-month average coming to 4.89 million.

Analysts gave the Denison Mines Corp. (DNN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 1 recommended DNN as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Denison Mines Corp.’s EPS for the current quarter is expected to be -$0.01.

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Denison Mines Corp. (AMEX:DNN) trade information

The company’s shares are showing year-to-date upside of 43.48%, with the 5-day performance at 13.01% in the green. However, in the 30-day time frame, Denison Mines Corp. (AMEX:DNN) is 25.95% up. Looking at the short shares, we see there were 35.59 million shares sold at short interest cover period of 7.2 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.25, meaning bulls need an upside of 26.67% from its current market value. According to analyst projections, DNN’s forecast low is $1.22 with $4.55 as the target high. To hit the forecast high, the stock’s price needs a -175.76% plunge from its current level, while the stock would need to tank 26.06% for it to hit the projected low.

Denison Mines Corp. (DNN) estimates and forecasts

Data shows that the Denison Mines Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 60.19% over the past 6 months, a -200.00% in annual growth rate that is considerably lower than the industry average of 8.20%. Year-over-year growth is forecast to reach -24.20% down from the last financial year.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.10%. The 2023 estimates are for Denison Mines Corp. earnings to decrease by -26.70%.

DNN Dividends

Denison Mines Corp. is expected to release its next quarterly earnings report on November 08.

Denison Mines Corp. (AMEX:DNN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.56% of Denison Mines Corp. shares while 38.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 39.20%. There are 38.98% institutions holding the Denison Mines Corp. stock share, with Mirae Asset Global Investments Co., Ltd. the top institutional holder. As of Jun 29, 2023, the company held 5.10% of the shares, roughly 42.89 million DNN shares worth $53.62 million.

Alps Advisors Inc. holds the second largest percentage of outstanding shares, with 4.52% or 38.02 million shares worth $47.53 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were Global X Fds-Global X Uranium ETF and Sprott Uranium Miners ETF. With 41.26 million shares estimated at $57.77 million under it, the former controlled 4.91% of total outstanding shares. On the other hand, Sprott Uranium Miners ETF held about 4.36% of the shares, roughly 36.63 million shares worth around $45.78 million.

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