Alyeska Investment Group L.P. Cuts Holdings in Denison Mine Corp $DNN

Key Points

• Alyeska Investment Group L.P. sold 18,409,605 shares of Denison Mine Corp, reducing its holdings by 92.5%, leaving them with 1,500,000 shares valued at approximately $1.95 million.
• Institutional ownership of Denison Mine stock is at 36.74%, with several large investors establishing new positions in the company in the first quarter.
• Equities analysts have mostly given Denison Mine a "Buy" rating, with one analyst rating it as a "Strong Buy" and an average target price of $3.00.

Alyeska Investment Group L.P. decreased its position in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 92.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,500,000 shares of the basic materials company's stock after selling 18,409,605 shares during the quarter. Alyeska Investment Group L.P. owned 0.17% of Denison Mine worth $1,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DNN. Millennium Management LLC lifted its stake in shares of Denison Mine by 393.3% in 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 purchasing an additional 4,084,401 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Denison Mine in the fourth quarter worth about $1,939,000. Russell Investments Group Ltd. boosted its stake in shares of Denison Mine by 979,732.3% during the 1st quarter. Russell Investments Group Ltd. now owns 970,034 shares of the basic materials company's stock worth $1,267,000 after acquiring an additional 969,935 shares in the last quarter. Tejara Capital Ltd purchased a new position in shares of Denison Mine in the 1st quarter valued at about $1,008,000. Finally, Quantbot Technologies LP raised its holdings in Denison Mine by 66.6% in the 1st quarter. Quantbot Technologies LP now owns 962,991 shares of the basic materials company's stock worth $1,252,000 after purchasing an additional 384,878 shares during the period. Institutional investors and hedge funds own 36.74% of the company's stock.

Denison Mine Trading Down 0.8%

Shares of NYSEAMERICAN DNN traded down $0.02 during trading on Thursday, reaching $2.43. The company had a trading volume of 69,138,378 shares, compared to its average volume of 53,534,552. The stock has a market capitalization of $2.18 billion, a PE ratio of -40.50 and a beta of 1.38. Denison Mine Corp has a twelve month low of $1.08 and a twelve month high of $2.50. The stock has a 50-day moving average price of $2.11 and a two-hundred day moving average price of $1.71.

Analysts Set New Price Targets

DNN has been the subject of a number of recent analyst reports. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research report on Thursday, August 7th. TD Securities reissued a "buy" rating on shares of Denison Mine in a report on Monday, August 11th. Desjardins raised shares of Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. National Bankshares reiterated an "outperform" rating on shares of Denison Mine in a research report on Monday, August 18th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Denison Mine in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mine Company 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.