Ardsley Advisory Partners LP Purchases 500,000 Shares of Denison Mines Corp. (NYSEAMERICAN:DNN)

Ardsley Advisory Partners LP boosted its holdings in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML by 100.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000,000 shares of the basic materials company's stock after purchasing an additional 500,000 shares during the quarter. Ardsley Advisory Partners LP owned approximately 0.11% of Denison Mines worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in shares of Denison Mines by 43.3% in the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after acquiring an additional 6,305,332 shares in the last quarter. Marshall Wace LLP increased its holdings in Denison Mines by 41.5% in the 4th quarter. Marshall Wace LLP now owns 8,135,130 shares of the basic materials company's stock valued at $14,643,000 after purchasing an additional 2,387,923 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Denison Mines by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 4,147,551 shares of the basic materials company's stock worth $7,493,000 after purchasing an additional 19,601 shares in the last quarter. Finally, NewGen Asset Management Ltd purchased a new stake in shares of Denison Mines in the fourth quarter worth about $5,441,000. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mines Trading Up 0.7 %

DNN stock traded up $0.01 during mid-day trading on Thursday, hitting $1.52. The stock had a trading volume of 38,016,784 shares, compared to its average volume of 31,273,650. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -152.00 and a beta of 1.75. The company has a fifty day moving average of $1.37 and a 200 day moving average of $1.79. Denison Mines Corp. has a 1-year low of $1.08 and a 1-year high of $2.47.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Scotiabank restated an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins assumed coverage on shares of Denison Mines in a research report on Friday, April 4th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Denison Mines has an average rating of "Buy" and an average target price 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.