CenterBook Partners LP Makes New Investment in Denison Mine Corp $DNN

CenterBook Partners LP bought a new position in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 255,217 shares of the basic materials company’s stock, valued at approximately $661,000.

A number of other hedge funds also recently bought and sold shares of DNN. Azarias Capital Management L.P. bought a new position in shares of Denison Mine in the third quarter worth about $10,771,000. Deutsche Bank AG acquired a new position in shares of Denison Mine during the 2nd quarter worth about $5,096,000. Bank of America Corp DE lifted its position in shares of Denison Mine by 77.4% during the 1st quarter. Bank of America Corp DE now owns 1,743,780 shares of the basic materials company’s stock worth $6,156,000 after purchasing an additional 760,719 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Denison Mine by 210.5% during the 2nd quarter. Tidal Investments LLC now owns 1,446,030 shares of the basic materials company’s stock worth $4,425,000 after purchasing an additional 980,277 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its position in shares of Denison Mine by 19.4% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock worth $16,664,000 after purchasing an additional 767,863 shares during the last quarter. 36.74% of the stock is currently owned by institutional investors.

Denison Mine Trading Down 1.4%

Shares of Denison Mine stock opened at $2.19 on Thursday. Denison Mine Corp has a 1 year low of $1.93 and a 1 year high of $4.43. The company’s fifty day simple moving average is $2.57 and its 200-day simple moving average is $3.26. The company has a debt-to-equity ratio of 1.56, a quick ratio of 4.46 and a current ratio of 4.67.

Denison Mine (NYSEAMERICAN:DNN) (TSE:DML) last released its earnings results on Wednesday, November 4th. The basic materials company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $2.32 million during the quarter, compared to analysts’ expectations of $2.32 million. Denison Mine had a negative net margin of 1,474.28% and a negative return on equity of 31.74%.

Analyst Ratings Changes

Several analysts recently weighed in on DNN shares. Jefferies Financial Group started coverage on Denison Mine in a research note on Thursday, September 3rd. They set a “buy” rating for the company. Zacks Research downgraded Denison Mine from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Denison Mine Company Profile

Denison Mines Corp. is a Canadian uranium exploration and development company focused on projects in Saskatchewan’s Athabasca Basin, a major uranium-producing region. Its activities include exploring for uranium, evaluating deposits and advancing projects toward potential development. The company’s flagship asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison is advancing plans to develop Phoenix using in-situ recovery, a method that extracts uranium without conventional underground mining.