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

Ninepoint Partners LP purchased a new position in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 190,000 shares of the basic materials company’s stock, valued at approximately $581,000.

Several other hedge funds also recently modified their holdings of the business. Summitry LLC bought a new position in Denison Mine during the fourth quarter worth $27,000. Kelleher Financial Advisors bought a new stake in Denison Mine in the 2nd quarter valued at $27,000. First Citizens Bank & Trust Co. acquired a new stake in Denison Mine in the 4th quarter worth $27,000. Invesco Ltd. acquired a new stake in Denison Mine in the 4th quarter worth $27,000. Finally, State of Wyoming bought a new position in shares of Denison Mine during the 4th quarter worth about $28,000. 36.74% of the stock is owned by institutional investors.

Denison Mine Stock Down 2.5%

DNN opened at $3.14 on Friday. Denison Mine Corp has a fifty-two week low of $1.89 and a fifty-two week high of $4.43. The company has a debt-to-equity ratio of 2.38, a current ratio of 9.41 and a quick ratio of 13.46. The firm’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $3.47. The company has a market capitalization of $2.84 billion, a P/E ratio of -14.27 and a beta of 1.23.

Analyst Ratings Changes

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

About Denison Mine

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.