Denison Mine Corp $DNN Stake Raised by Van ECK Associates Corp

Key Points

• Van ECK Associates Corp raised its stake in Denison Mines by 17.5% in Q3, owning 62,803,040 shares (about a 7.00% stake) valued at $172.7 million after purchasing an additional 9.35 million shares.
• Analyst sentiment is bullish: five analysts rate DNN a "Buy" with a consensus target price of $4.25, including recent reiterations from Scotiabank, Raymond James and Roth MKM.
• Denison is a Canada-based uranium explorer focused on the Athabasca Basin, with flagship asset Wheeler River (66.9% owned); the stock trades near $4.04 and the company has a market cap of about $3.65 billion.

Van ECK Associates Corp grew its stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 17.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,803,040 shares of the basic materials company's stock after purchasing an additional 9,348,414 shares during the period. Van ECK Associates Corp owned about 7.00% of Denison Mine worth $172,709,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Swiss National Bank lifted its position in Denison Mine by 1.7% in the 3rd quarter. Swiss National Bank now owns 1,752,700 shares of the basic materials company's stock worth $4,826,000 after buying an additional 29,300 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Denison Mine during the third quarter worth $36,000. Dynamic Technology Lab Private Ltd acquired a new stake in Denison Mine during the third quarter valued at $196,000. First Trust Advisors LP purchased a new position in Denison Mine in the third quarter valued at about $49,000. Finally, Advisory Alpha LLC increased its position in Denison Mine by 38.8% in the 3rd quarter. Advisory Alpha LLC now owns 30,447 shares of the basic materials company's stock worth $84,000 after purchasing an additional 8,515 shares during the last quarter. Hedge funds and other institutional investors own 36.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DNN shares. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a report on Friday, February 20th. Raymond James Financial reiterated an "outperform" rating on shares of Denison Mine in a research note on Wednesday, January 14th. Finally, Roth Mkm restated a "buy" rating and set a $4.25 price target on shares of Denison Mine in a research note on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $4.25.

Denison Mine Stock Up 6.0%

DNN stock opened at $4.04 on Wednesday. The company has a market cap of $3.65 billion, a PE ratio of -26.93 and a beta of 1.18. Denison Mine Corp has a twelve month low of $1.08 and a twelve month high of $4.43. The business's 50-day simple moving average is $3.76 and its 200 day simple moving average is $3.04. The company has a quick ratio of 11.78, a current ratio of 11.97 and a debt-to-equity ratio of 1.49.

Denison Mine 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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