Shares of Denison Mine Corp (NYSEAMERICAN:DNN – Get Free Report) (TSE:DML) reached a new 52-week low during trading on Wednesday. The stock traded as low as $2.20 and last traded at $2.2150, with a volume of 3,090,243 shares changing hands. The stock had previously closed at $2.33.
Analyst Ratings Changes
DNN has been the topic of several recent analyst reports. Royal Bank Of Canada started coverage on shares of Denison Mine in a report on Monday, July 13th. They set an “outperform” rating on the stock. Jefferies Financial Group initiated coverage on Denison Mine in a report on Thursday, September 3rd. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.38.
Read Our Latest Research Report on Denison Mine
Denison Mine Stock Performance
Institutional Trading of Denison Mine
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in 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 purchasing an additional 16,013,484 shares during the period. Renaissance Technologies LLC increased its position in shares of 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 buying an additional 6,934,400 shares in the last quarter. Goehring & Rozencwajg Associates LLC raised its position in Denison Mine by 19.4% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock worth $16,664,000 after acquiring an additional 767,863 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Denison Mine in the 2nd quarter valued at approximately $16,541,000. Finally, Bank of America Corp DE purchased a new stake in shares of Denison Mine in the second quarter valued at $13,237,000. 36.74% of the stock is owned by hedge funds and other institutional investors.
About Denison Mine
Denison Mines Corp. is a uranium exploration, development and production company focused primarily on the Athabasca Basin in northern Saskatchewan, Canada. The company’s activities include the acquisition, evaluation and advancement of uranium mineral properties, with an emphasis on projects that could support future uranium production.
Denison’s flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Phoenix is being advanced as an in-situ recovery project, while Gryphon is being evaluated as an underground mining operation.
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