Denison Mines Corp. (NYSEAMERICAN:DNN) Shares Sold by Alpha Wave Global LP

Alpha Wave Global LP reduced its stake in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML by 58.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,099,946 shares of the basic materials company's stock after selling 1,550,127 shares during the quarter. Denison Mines accounts for 0.9% of Alpha Wave Global LP's investment portfolio, making the stock its 15th largest position. Alpha Wave Global LP owned 0.12% of Denison Mines worth $1,980,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in 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 valued at $37,595,000 after purchasing an additional 6,305,332 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Denison Mines by 116.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock worth $12,932,000 after buying an additional 3,838,504 shares in the last quarter. Marshall Wace LLP raised its holdings in Denison Mines by 41.5% in the fourth quarter. Marshall Wace LLP now owns 8,135,130 shares of the basic materials company's stock valued at $14,643,000 after acquiring an additional 2,387,923 shares in the last quarter. Summit Financial LLC purchased a new position in Denison Mines in the fourth quarter worth approximately $4,283,000. Finally, Cinctive Capital Management LP purchased a new stake in shares of Denison Mines in the 4th quarter valued at approximately $3,939,000. Hedge funds and other institutional investors own 36.74% of the company's stock.

Denison Mines Stock Performance

NYSEAMERICAN DNN traded up $0.11 on Wednesday, reaching $1.40. The stock had a trading volume of 33,531,779 shares, compared to its average volume of 29,473,912. The stock has a market cap of $1.25 billion, a P/E ratio of -139.50 and a beta of 1.75. Denison Mines Corp. has a 12-month low of $1.08 and a 12-month high of $2.47. The business's 50-day moving average price is $1.43 and its 200 day moving average price is $1.83.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DNN shares. Desjardins started coverage on shares of Denison Mines in a research report on Friday, April 4th. They set a "buy" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. One 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 company. Based on data from MarketBeat.com, the company currently 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.