Old West Investment Management LLC Takes Position in Denison Mine Corp $DNN

Old West Investment Management LLC acquired a new stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 661,255 shares of the basic materials company’s stock, valued at approximately $2,023,000. Old West Investment Management LLC owned approximately 0.07% of Denison Mine as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its position in 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 during the period. L1 Capital Pty Ltd increased its position in shares of 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 worth $38,520,000 after acquiring an additional 13,705,598 shares during the period. Van ECK Associates Corp raised its stake in shares of Denison Mine by 20.9% in the fourth quarter. Van ECK Associates Corp now owns 75,910,027 shares of the basic materials company’s stock valued at $201,916,000 after acquiring an additional 13,106,987 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 valued at $36,502,000 after acquiring an additional 12,525,956 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings 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 purchasing an additional 6,934,400 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DNN has been the subject of several analyst reports. Royal Bank Of Canada began coverage on Denison Mine in a research note on Monday, July 13th. They set an “outperform” rating for the company. Zacks Research cut Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Denison Mine presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.

Denison Mine Price Performance

Denison Mine stock opened at $3.23 on Monday. The stock has a market cap of $2.92 billion, a P/E ratio of -14.68 and a beta of 1.23. The company has a fifty day simple moving average of $3.09 and a 200-day simple moving average of $3.50. Denison Mine Corp has a 12-month low of $1.86 and a 12-month high of $4.43. The company has a current ratio of 13.77, a quick ratio of 13.46 and a debt-to-equity ratio of 2.81.

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.