Ninepoint Partners LP Makes New $581,000 Investment in Denison Mine Corp $DNN

Ninepoint Partners LP acquired a new stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the second quarter, HoldingsChannel.com reports. The firm acquired 190,000 shares of the basic materials company’s stock, valued at approximately $581,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Denison Mine by 20.9% during the 4th quarter. Van ECK Associates Corp now owns 75,910,027 shares of the basic materials company’s stock worth $201,916,000 after purchasing an additional 13,106,987 shares in the last quarter. Vanguard Group Inc. boosted its position in Denison Mine by 80.6% in the fourth quarter. Vanguard Group Inc. now owns 23,960,755 shares of the basic materials company’s stock valued at $63,544,000 after buying an additional 10,696,852 shares in the last quarter. Two Sigma Investments LP boosted its position in Denison Mine by 1,696.3% in the third 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. L1 Capital Pty Ltd grew its stake 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 worth $38,520,000 after buying an additional 13,705,598 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in Denison Mine by 41.9% during the second quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company’s stock worth $17,755,000 after buying an additional 2,881,618 shares during the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DNN shares. Zacks Research cut shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Royal Bank Of Canada initiated coverage on Denison Mine in a research report on Monday, July 13th. They set an “outperform” rating on the stock. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.38.

Denison Mine Stock Down 2.5%

Shares of NYSEAMERICAN DNN opened at $3.14 on Friday. The firm’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $3.47. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -14.27 and a beta of 1.23. The company has a quick ratio of 13.46, a current ratio of 9.41 and a debt-to-equity ratio of 2.38. Denison Mine Corp has a 12-month low of $1.89 and a 12-month high of $4.43.

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.