Denison Mine Corp $DNN Position Increased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,910,027 shares of the basic materials company’s stock after acquiring an additional 13,106,987 shares during the period. Van ECK Associates Corp owned about 0.08% of Denison Mine worth $201,916,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DNN. Two Sigma Investments LP raised its holdings in shares of Denison Mine by 1,696.3% during the third quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock worth $46,823,000 after acquiring an additional 16,078,514 shares in the last quarter. L1 Capital Pty Ltd grew its position in Denison Mine by 4,544.0% in the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company’s stock worth $38,520,000 after acquiring an additional 13,705,598 shares in the last quarter. Vanguard Group Inc. grew its position in Denison Mine by 1,697.4% in the third quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company’s stock worth $36,502,000 after acquiring an additional 12,525,956 shares in the last quarter. Merewether Investment Management LP bought a new stake in Denison Mine in the third quarter worth approximately $18,755,000. Finally, Balyasny Asset Management L.P. bought a new stake in Denison Mine in the second quarter worth approximately $7,998,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Denison Mine Stock Performance

DNN stock opened at $3.06 on Friday. The firm has a 50 day moving average of $3.53 and a two-hundred day moving average of $3.45. The company has a quick ratio of 13.46, a current ratio of 13.77 and a debt-to-equity ratio of 2.81. Denison Mine Corp has a 12 month low of $1.57 and a 12 month high of $4.43. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -13.30 and a beta of 1.18.

Wall Street Analysts Forecast Growth

Several research firms have commented on DNN. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Zacks Research downgraded shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. TD Securities boosted their target price on shares of Denison Mine from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $4.25 target price on shares of Denison Mine in a research report on Wednesday, February 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

About Denison Mine

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.