Connor Clark & Lunn Investment Management Ltd. Takes Position in Denison Mine Corp $DNN

Key Points

• Connor Clark & Lunn Investment Management acquired 5.4 million shares of Denison Mines in the second quarter, valued at approximately $16.5 million, giving it a 0.60% stake.
• Institutional investors own 36.74% of Denison Mines, with Royal Bank of Canada, Millennium Management, Goldman Sachs, UBS Asset Management and Envestnet also increasing their positions.
• DNN has a consensus “Moderate Buy” rating from analysts, with five Buy ratings and one Hold rating, and a consensus price target of $5.38 versus a recent price of $3.72.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,398,440 shares of the basic materials company's stock, valued at approximately $16,541,000. Connor Clark & Lunn Investment Management Ltd. owned 0.60% of Denison Mine as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in DNN. Royal Bank of Canada grew its holdings in Denison Mine by 14.6% in the 1st quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company's stock valued at $5,613,000 after buying an additional 550,064 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Denison Mine by 11.5% during the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company's stock worth $7,423,000 after buying an additional 587,352 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Denison Mine by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company's stock worth $2,194,000 after buying an additional 45,125 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Denison Mine by 62.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company's stock valued at $1,955,000 after acquiring an additional 578,365 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Denison Mine by 29.4% in the second quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company's stock valued at $102,000 after acquiring an additional 12,705 shares during the period. Institutional investors own 36.74% of the company's stock.

Denison Mine Price Performance

Denison Mine stock opened at $3.72 on Wednesday. The business has a 50 day simple moving average of $3.13 and a 200 day simple moving average of $3.47. The company has a debt-to-equity ratio of 2.38, a current ratio of 9.41 and a quick ratio of 9.14. The company has a market capitalization of $3.37 billion, a PE ratio of -16.91 and a beta of 1.23. Denison Mine Corp has a one year low of $2.08 and a one year high of $4.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on DNN. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research note on Thursday, May 14th. Zacks Research cut shares of Denison Mine from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada assumed coverage on shares of Denison Mine in a report on Monday, July 13th. They issued an "outperform" rating for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Denison Mine currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.38.

Denison Mine Company Profile

Denison Mines Corp. NYSEAMERICAN: DNN is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company's core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison's flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world's most prolific uranium districts.

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