Van ECK Associates Corp Acquires 16,013,484 Shares of Denison Mine Corp $DNN

Van ECK Associates Corp increased its holdings in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 22.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,521,620 shares of the basic materials company’s stock after purchasing an additional 16,013,484 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of Denison Mine worth $267,557,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DNN. Two Sigma Investments LP lifted its position in Denison Mine by 1,696.3% during the 3rd quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company’s stock worth $46,823,000 after buying an additional 16,078,514 shares in the last quarter. L1 Capital Pty Ltd boosted its stake in shares of Denison Mine by 4,544.0% during the 3rd 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. Vanguard Group Inc. grew its holdings in shares of Denison Mine by 1,697.4% in the 3rd 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. Renaissance Technologies LLC grew its holdings in shares of Denison Mine by 275.0% in the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock valued at $33,379,000 after acquiring an additional 6,934,400 shares in the last quarter. Finally, Merewether Investment Management LP acquired a new stake in shares of Denison Mine in the third quarter valued at about $18,755,000. Institutional investors own 36.74% of the company’s stock.

Denison Mine Stock Down 7.6%

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

Wall Street Analyst Weigh In

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

Denison Mine 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.