Shares of Denison Mine Corp (NYSEAMERICAN:DNN – Get Free Report) (TSE:DML) shot up 8.9% during trading on Friday . The company traded as high as $3.43 and last traded at $3.42. 3,609,668 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 33,587,277 shares. The stock had previously closed at $3.14.
Wall Street Analyst Weigh In
DNN has been the subject of several research analyst reports. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Thursday, May 14th. Zacks Research cut Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada assumed coverage on Denison Mine in a report on Monday, July 13th. They set an “outperform” rating on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Denison Mine currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.
Read Our Latest Stock Analysis on Denison Mine
Denison Mine Trading Up 11.8%
Hedge Funds Weigh In On Denison Mine
Several institutional investors and hedge funds have recently added to or reduced their stakes in DNN. Two Sigma Investments LP boosted its holdings in shares of Denison Mine by 1,696.3% in the 3rd quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock valued at $46,823,000 after buying an additional 16,078,514 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Denison Mine by 22.4% during the 2nd quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock worth $267,557,000 after acquiring an additional 16,013,484 shares in the last quarter. L1 Capital Pty Ltd lifted its position in Denison Mine by 4,544.0% during the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company’s stock valued at $38,520,000 after acquiring an additional 13,705,598 shares during the last quarter. Vanguard Group Inc. lifted its position in Denison Mine by 1,697.4% during the third quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company’s stock valued at $36,502,000 after acquiring an additional 12,525,956 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Denison Mine by 275.0% in the first quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock valued at $33,379,000 after acquiring an additional 6,934,400 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.
Denison Mine Company Profile
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.
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