Extract Advisors LLC Reduces Position in Denison Mine Corp $DNN

Key Points

• Extract Advisors LLC cut its Denison Mines position by 71% in the first quarter, selling 1.23 million shares and retaining 500,000 shares worth approximately $1.8 million.
• Despite the reduction, other institutions—including VanEck, Two Sigma, L1 Capital, Vanguard and Renaissance Technologies—substantially increased their holdings; institutional investors collectively own 36.74% of DNN.
• Analysts maintain a generally positive outlook, with six Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $5.38, versus a recent share price of $2.92.

Extract Advisors LLC trimmed its position in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 71.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 500,000 shares of the basic materials company's stock after selling 1,225,182 shares during the period. Denison Mine comprises 0.6% of Extract Advisors LLC's holdings, making the stock its 19th biggest holding. Extract Advisors LLC owned approximately 0.06% of Denison Mine worth $1,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its position in shares of Denison Mine by 1,696.3% during the third quarter. Two Sigma Investments LP now owns 17,026,392 shares of the basic materials company's stock valued at $46,823,000 after buying an additional 16,078,514 shares during the period. L1 Capital Pty Ltd raised its holdings in shares of Denison Mine by 4,544.0% in the third quarter. L1 Capital Pty Ltd now owns 14,007,218 shares of the basic materials company's stock worth $38,520,000 after buying an additional 13,705,598 shares during the period. Van ECK Associates Corp lifted its stake in shares of Denison Mine by 20.9% during the 4th quarter. Van ECK Associates Corp now owns 75,910,027 shares of the basic materials company's stock worth $201,916,000 after acquiring an additional 13,106,987 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Denison Mine by 1,697.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company's stock worth $36,502,000 after acquiring an additional 12,525,956 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Denison Mine by 275.0% during the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company's stock valued at $33,379,000 after acquiring an additional 6,934,400 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Denison Mine Trading Up 0.3%

DNN opened at $2.92 on Tuesday. The company has a quick ratio of 13.46, a current ratio of 13.77 and a debt-to-equity ratio of 2.81. The stock's fifty day moving average is $3.17 and its two-hundred day moving average is $3.55. The company has a market capitalization of $2.64 billion, a P/E ratio of -12.70 and a beta of 1.21. Denison Mine Corp has a 52 week low of $1.86 and a 52 week high of $4.43.

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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