Alyeska Investment Group L.P. Makes New Investment in Denison Mines Corp. (NYSEAMERICAN:DNN)

Alyeska Investment Group L.P. purchased a new position in shares of Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,909,605 shares of the basic materials company's stock, valued at approximately $35,837,000. Alyeska Investment Group L.P. owned 2.22% of Denison Mines as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Denison Mines by 43.3% in the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after buying an additional 6,305,332 shares in the last quarter. Marshall Wace LLP raised its position in Denison Mines by 41.5% during the fourth quarter. Marshall Wace LLP now owns 8,135,130 shares of the basic materials company's stock worth $14,643,000 after acquiring an additional 2,387,923 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Denison Mines by 116.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock valued at $12,932,000 after purchasing an additional 3,838,504 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Denison Mines by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,147,551 shares of the basic materials company's stock valued at $7,493,000 after purchasing an additional 19,601 shares during the last quarter. Finally, NewGen Asset Management Ltd purchased a new position in shares of Denison Mines during the 4th quarter worth approximately $5,441,000. Institutional investors and hedge funds own 36.74% of the company's stock.

Denison Mines Stock Performance

Shares of DNN traded up $0.03 during trading hours on Friday, hitting $1.55. The stock had a trading volume of 30,004,774 shares, compared to its average volume of 31,360,772. Denison Mines Corp. has a 12-month low of $1.08 and a 12-month high of $2.47. The firm has a market cap of $1.39 billion, a P/E ratio of -155.00 and a beta of 1.75. The company's fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.79.

Analyst Upgrades and Downgrades

DNN has been the topic of a number of analyst reports. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. Desjardins initiated coverage on Denison Mines in a research report on Friday, April 4th. They set a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Denison Mines currently has an average rating of "Buy" and an average price target of $3.00.

Denison Mines Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.