Should You Sell Denison Mines Corp. (DNN) And Go Away This Year?

Denison Mines Corp. (AMEX:DNN) currently has a daily average trading volume of 3.93M but it saw 2133524 shares traded on Thursday. With a market cap of 922.40M USD, stock’s current market price of $1.07 came falling about -1.83 while comparing to the previous closing price of $1.09. In past 52 weeks, the stock remained buoying in the range of price level as high as $1.53 and as low as $0.91. In the recent trading on the day, stock has struck highest price mark of $1.09 while lowest mark touched by it was $1.06.

Taking a look at 20-day trading activity of Denison Mines Corp. (DNN) gives us an average price of $1.0870, while its current price level is -30.07% below from 52-week high level whereas it is 17.58% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $1.0515 while that of 200 days or SMA-200 reads an average of $1.1873. A closer look into the stock’s movement over the week reveals that its volatility is standing at 4.86% during that period while stretching the period over a month that decreases to 4.54%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 48.15 which implies that the stock is in neutral territory.

Denison Mines Corp. (DNN)’s stock is currently under the radar of 8 analysts who are in consensus at a 12-month price target range of between $1.11 and $3.89 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $1.11 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $3.89. Average price target assigned by them is $2.10 which highlights an upside potential of 49.05% for the stock over that period. And to attain the median price target of $2.01 assigned by those analysts, stock has to add about 46.77% of value to its current levels.

Data by FactSet Research shows that 8 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 2 are advising it as an Overweight. 5 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.

Over the week, DNN’s stock price is moving -2.73% down while it is 5.94% when we observe its performance for the past one month. Year-to-date it is -6.96% down and over the past year, the stock is showing a downside performance of -5.31%.

The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0 beat the consensus estimate of -$0.01 for the same. The company is expected to be releasing its next quarterly report in 08/09/2023, for which analysts forecasted an EPS of -$0.01 while estimate for next year EPS is -$0.02.

Currently, Denison Mines Corp.’s total number of outstanding shares is 832.83M with 0.56% of that held by the insiders while 35.58% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 4.60% and return on equity (ROE) at -7.00%. Stock’s beta reads 1.83. Stock has a price to book (P/B) ratio of 2.68 while price to sale or P/S ratio amounts to 89.55. Its return on asset (ROA) is -5.80% on average.

A filing at the U.S. Securities and Exchange Commission revealed that Global X Uranium ETF came shrinking its share ownership by -0.27% in the Denison Mines Corp. (DNN) decreasing its stake to 4.65% with control over -0.1 million shares in the company. As per SEC documents, Global X Uranium ETF shunned 38,412,529 of company’s common stock of worth $42.25 million as per recent closing price of the stock. Global X Uranium ETF is not the only institutional holder which restructured its stake in Denison Mines Corp., as Sprott Uranium Miners ETF dumped 37,217,919 shares of worth $40.94 million to bring its holdings to a total of -0.11 million shares. In the most recent quarter, Hood River Small-Cap Growth Fund came rising its stake by 2.63% in the company and now holds 9.62 million or 1.16% of the company’s stake having worth of about 10.58 million.