Intact Investment Management Inc. Cuts Holdings in Denison Mine Corp $DNN

Key Points

• Intact Investment Management cut its stake in Denison Mine by 42.3% in Q4, selling 955,500 shares and retaining 1,305,600 shares (about 0.14% of the company) worth roughly $3.46 million.
• Meanwhile, several large institutions — including Royal Bank of Canada, Millennium Management, Goldman Sachs and UBS — increased their DNN holdings in recent quarters, and hedge funds/institutions now own about 36.74% of the stock.
• Analyst sentiment is broadly positive with a MarketBeat consensus rating of "Buy" and a $5.38 target; multiple firms reiterated buy/outperform calls (Zacks moved to "strong-buy" and TD raised its target to $6.50).

Intact Investment Management Inc. decreased its position in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,305,600 shares of the basic materials company's stock after selling 955,500 shares during the period. Intact Investment Management Inc. owned approximately 0.14% of Denison Mine worth $3,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DNN. Royal Bank of Canada grew its position in Denison Mine by 14.6% in the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company's stock worth $5,613,000 after acquiring an additional 550,064 shares in the last quarter. Millennium Management LLC grew its position in Denison Mine by 11.5% in the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company's stock worth $7,423,000 after acquiring an additional 587,352 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Denison Mine by 2.7% in 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 acquiring an additional 45,125 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 worth $1,955,000 after acquiring an additional 578,365 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in 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 worth $102,000 after acquiring an additional 12,705 shares in the last quarter. Hedge funds and other institutional investors own 36.74% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on DNN shares. Scotiabank reiterated an "outperform" rating on shares of Denison Mine in a research report on Friday, February 20th. Roth Mkm reiterated a "buy" rating and issued a $4.25 price target on shares of Denison Mine in a research report on Wednesday, February 18th. TD Securities lifted their price target on Denison Mine from $6.00 to $6.50 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Zacks Research upgraded Denison Mine from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 11th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Denison Mine in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $5.38.

Denison Mine Stock Up 0.3%

Shares of NYSEAMERICAN:DNN opened at $3.76 on Tuesday. Denison Mine Corp has a 1 year low of $1.39 and a 1 year high of $4.43. The business has a 50 day simple moving average of $3.79 and a two-hundred day simple moving average of $3.33. The firm has a market capitalization of $3.40 billion, a PE ratio of -22.12 and a beta of 1.23. The company has a debt-to-equity ratio of 1.66, a current ratio of 10.75 and a quick ratio of 10.51.

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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