Arosa Capital Management LP Purchases Shares of 800,000 Denison Mines Corp. (NYSEAMERICAN:DNN)

Arosa Capital Management LP acquired a new stake in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) during the 4th quarter, Holdings Channel reports. The fund acquired 800,000 shares of the basic materials company’s stock, valued at approximately $1,440,000. Denison Mines accounts for 0.6% of Arosa Capital Management LP’s portfolio, making the stock its 29th largest holding.

Other large investors also recently modified their holdings of the company. NewGen Asset Management Ltd bought a new stake in Denison Mines during the fourth quarter valued at about $5,441,000. Oxford Asset Management LLP purchased a new position in Denison Mines in the 4th quarter worth approximately $26,000. Natixis boosted its stake in Denison Mines by 8.2% in the 4th quarter. Natixis now owns 352,532 shares of the basic materials company’s stock worth $635,000 after purchasing an additional 26,780 shares during the period. Farringdon Capital Ltd. purchased a new stake in Denison Mines during the 4th quarter valued at approximately $130,000. Finally, Marshall Wace LLP raised its position in shares of Denison Mines by 41.5% during the fourth quarter. Marshall Wace LLP now owns 8,135,130 shares of the basic materials company’s stock valued at $14,643,000 after buying an additional 2,387,923 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Wall Street Analyst Weigh In

DNN has been the subject of several research reports. Scotiabank reiterated an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. Desjardins started coverage on Denison Mines in a report on Friday, April 4th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

Shares of NYSEAMERICAN DNN opened at $1.39 on Friday. The business’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.82. Denison Mines Corp. has a fifty-two week low of $1.08 and a fifty-two week high of $2.47. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -139.00 and a beta of 1.75.

Denison Mines Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.