Jupiter Topco LLC Takes $11.86 Million Position in Denison Mine Corp $DNN

Jupiter Topco LLC bought a new stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,863,049 shares of the basic materials company’s stock, valued at approximately $11,857,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DNN. Van ECK Associates Corp lifted its position in 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 acquiring an additional 13,106,987 shares during the period. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 10,696,852 shares during the period. Two Sigma Investments LP increased its holdings in shares of 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 purchasing an additional 16,078,514 shares during the period. L1 Capital Pty Ltd raised its stake in shares of Denison Mine by 4,544.0% in 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 purchasing an additional 13,705,598 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Denison Mine by 41.9% in the second quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company’s stock worth $17,755,000 after purchasing an additional 2,881,618 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mine Trading Down 7.6%

DNN stock opened at $3.39 on Friday. Denison Mine Corp has a 52-week low of $2.20 and a 52-week high of $4.43. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38. The firm has a market cap of $3.07 billion, a P/E ratio of -15.41 and a beta of 1.23. The company’s 50-day simple moving average is $3.14 and its 200-day simple moving average is $3.47.

Analysts Set New Price Targets

A number of research firms recently commented on DNN. Zacks Research downgraded Denison Mine from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Royal Bank Of Canada assumed coverage on shares of Denison Mine in a report on Monday, July 13th. They issued an “outperform” rating on the stock. Finally, Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Five 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 has an average rating of “Moderate Buy” and a consensus target price of $5.38.

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.