49,616,733 Shares of Denison Mine Corp $DNN Bought by Alps Advisors Inc.

Key Points

• Alps Advisors acquired 49.6 million Denison Mines shares in the third quarter, worth about $128.5 million, giving it a 5.48% stake and making DNN its 21st-largest portfolio holding.
• Institutional investors own 36.74% of the company, with other funds including VanECK and Renaissance Technologies also increasing or adding positions.
• Analyst sentiment is moderately positive: six analysts rate the stock Buy and one Sell, with a consensus target of $5.38. DNN opened at $2.19, and its latest quarterly results matched estimates at a loss of $0.02 per share.

Alps Advisors Inc. acquired a new stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 49,616,733 shares of the basic materials company's stock, valued at approximately $128,507,000. Denison Mine accounts for 0.6% of Alps Advisors Inc.'s investment portfolio, making the stock its 21st largest position. Alps Advisors Inc. owned about 5.48% of Denison Mine at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Denison Mine by 22.4% during the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company's stock worth $267,557,000 after acquiring an additional 16,013,484 shares during the period. Renaissance Technologies LLC increased its stake in Denison Mine by 275.0% in the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company's stock worth $33,379,000 after buying an additional 6,934,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Denison Mine during the 2nd quarter worth approximately $16,541,000. Bank of America Corp DE purchased a new position in shares of Denison Mine during the second quarter worth $13,237,000. Finally, Azarias Capital Management L.P. acquired a new position in Denison Mine in the 3rd quarter valued at about $10,771,000. 36.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DNN. Jefferies Financial Group initiated coverage on shares of Denison Mine in a research note on Thursday, September 3rd. They issued a "buy" rating on the stock. Royal Bank Of Canada began coverage on Denison Mine in a report on Monday, July 13th. They set an "outperform" rating on the stock. Finally, Zacks Research lowered shares of Denison Mine from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.38.

Denison Mine Price Performance

Shares of DNN opened at $2.19 on Friday. The stock has a 50 day moving average price of $2.63 and a 200 day moving average price of $3.29. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38. Denison Mine Corp has a 52-week low of $1.93 and a 52-week high of $4.43.

Denison Mine (NYSEAMERICAN:DNN - Get Free Report) TSE: DML last issued its earnings results on Wednesday, November 4th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.02). Denison Mine had a negative return on equity of 24.82% and a negative net margin of 6,750.40%. The business had revenue of $2.32 million for the quarter, compared to analysts' expectations of $2.32 million. Equities analysts predict that Denison Mine Corp will post -0.06 earnings per share for the current fiscal year.

About Denison Mine

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada's Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison's activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company's principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.

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