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Hot Stock: Denison Mines, Shares Drop 6.2% (DNN)

Published on Mon, 03/18/2013 - 12:24
By Robert Cotter

Denison Mines (AMEX:DNN) is one of today's worst performing low-priced stocks, down 6.2% to $1.36 on 1.0x average daily volume. Thus far today, Denison Mines has traded 643,000 shares, vs. average volume of 616,000 shares per day. The stock has underperformed the Dow (-6.2% to the Dow's -0.1%) and underperformed the S&P 500 (-6.2% to the S&P's -0.3%) during today's trading.

Potential upside of 35.2% exists for Denison Mines, based on a current level of $1.36 and analysts' average consensus price target of $1.84. Denison Mines shares have support at the 50-day moving average (MA) of $1.36 and additional support at the 200-day MA of $1.35.

In the past 52 weeks, shares of Denison Mines have traded between a low of $1.03 and a high of $1.98 and are now at $1.36, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

Denison Mines Corporation explores and produces uranium concentrates. The Company holds interest in properties in the United States, Canada, and Mongolia. Denison also has a mining project in Zambia.

By Robert Cotter