Regal Partners Ltd Takes $1.30 Million Position in Denison Mine Corp (NYSEAMERICAN:DNN)

Key Points

• Regal Partners Ltd acquired a new position in Denison Mine Corp by purchasing 1,000,781 shares valued at approximately $1.3 million, representing 0.11% ownership of the company.
• Several large institutional investors, including Renaissance Technologies LLC and Geode Capital Management LLC, have increased their stakes in Denison Mine during the 4th quarter, reflecting a growing interest in the stock.
• Denison Mine's stock has a consensus rating of "Buy" with projected growth, as analysts set a target price of $3.00 per share amidst increasing uranium market interest.

Regal Partners Ltd purchased a new stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,000,781 shares of the basic materials company's stock, valued at approximately $1,301,000. Regal Partners Ltd owned about 0.11% of Denison Mine 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. Alyeska Investment Group L.P. bought a new position in shares of Denison Mine during the 4th quarter valued at approximately $35,837,000. MMCAP International Inc. SPC grew its stake in shares of Denison Mine by 36.4% during the 1st quarter. MMCAP International Inc. SPC now owns 23,895,317 shares of the basic materials company's stock valued at $31,064,000 after acquiring an additional 6,371,531 shares during the period. Millennium Management LLC grew its stake in shares of Denison Mine by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock valued at $9,221,000 after acquiring an additional 4,084,401 shares during the period. NewGen Asset Management Ltd bought a new position in shares of Denison Mine during the 4th quarter valued at approximately $5,441,000. Finally, Marshall Wace LLP grew its stake in shares of Denison Mine by 41.5% during 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 acquiring an additional 2,387,923 shares during the period. Hedge funds and other institutional investors own 36.74% of the company's stock.

Denison Mine Stock Performance

NYSEAMERICAN DNN remained flat at $2.03 during trading on Friday. The company's stock had a trading volume of 47,556,644 shares, compared to its average volume of 79,188,336. The company has a market capitalization of $1.82 billion, a P/E ratio of -33.83 and a beta of 1.39. The firm's fifty day moving average is $1.94 and its 200 day moving average is $1.68. Denison Mine Corp has a fifty-two week low of $1.08 and a fifty-two week high of $2.47.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DNN. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research note on Thursday, August 7th. TD Securities restated a "buy" rating on shares of Denison Mine in a research report on Monday. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $3.00.

About Denison Mine

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.