TD Asset Management Inc Reduces Stock Position in Denison Mine Corp $DNN

TD Asset Management Inc cut its stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 18.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,310,205 shares of the basic materials company’s stock after selling 1,677,599 shares during the quarter. TD Asset Management Inc’s holdings in Denison Mine were worth $20,122,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Denison Mine by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock worth $5,613,000 after purchasing an additional 550,064 shares during the period. Millennium Management LLC lifted its holdings in shares of Denison Mine by 11.5% in the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock worth $7,423,000 after buying an additional 587,352 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Denison Mine by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock valued at $2,194,000 after acquiring an additional 45,125 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Denison Mine by 62.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company’s stock valued at $1,955,000 after acquiring an additional 578,365 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Denison Mine by 29.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 12,705 shares during the period. 36.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DNN has been the topic of several recent analyst reports. Scotiabank reiterated an “outperform” rating on shares of Denison Mine in a research note on Friday, February 20th. Roth Mkm reissued a “buy” rating and set a $4.25 price objective on shares of Denison Mine in a research note on Wednesday, February 18th. Finally, Raymond James Financial restated an “outperform” rating on shares of Denison Mine in a research report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $4.25.

Denison Mine Stock Performance

Denison Mine stock opened at $4.18 on Friday. Denison Mine Corp has a fifty-two week low of $1.08 and a fifty-two week high of $4.43. The company has a debt-to-equity ratio of 1.49, a quick ratio of 11.78 and a current ratio of 11.97. The stock has a market cap of $3.77 billion, a P/E ratio of -27.87 and a beta of 1.26. The firm’s fifty day moving average price is $3.59 and its 200-day moving average price is $2.94.

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.