Denison Mine Corp $DNN Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Denison Mines stake by 77.4% in the first quarter, bringing its holdings to 1.74 million shares, or approximately 0.19% of the company valued at $6.16 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding approximately 36.74% of Denison Mines shares.
• Analysts maintain a generally positive outlook: five rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $5.38, versus a recent price of $3.63.

Bank of America Corp DE lifted its stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 77.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,743,780 shares of the basic materials company's stock after purchasing an additional 760,719 shares during the period. Bank of America Corp DE owned approximately 0.19% of Denison Mine worth $6,156,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Summitry LLC acquired a new position in Denison Mine in the 4th quarter worth approximately $27,000. First Citizens Bank & Trust Co. bought a new position in Denison Mine during the fourth quarter valued at approximately $27,000. Invesco Ltd. acquired a new stake in shares of Denison Mine in the 4th quarter valued at $27,000. State of Wyoming acquired a new stake in shares of Denison Mine in the fourth quarter worth about $28,000. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in Denison Mine during the fourth quarter worth approximately $28,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mine Trading Down 2.4%

DNN stock opened at $3.63 on Thursday. The business has a fifty day moving average of $3.14 and a 200-day moving average of $3.47. The company has a market cap of $3.29 billion, a P/E ratio of -16.50 and a beta of 1.23. Denison Mine Corp has a twelve month low of $2.14 and a twelve month high of $4.43. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38.

Analysts Set New Price Targets

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

About Denison Mine

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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