Ninepoint Partners LP Lowers Holdings in Denison Mine Corp (NYSEAMERICAN:DNN)

Ninepoint Partners LP reduced its stake in Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 73.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,000 shares of the basic materials company's stock after selling 665,000 shares during the quarter. Ninepoint Partners LP's holdings in Denison Mine were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oxford Asset Management LLP purchased a new stake in Denison Mine in the fourth quarter worth $26,000. Sowell Financial Services LLC bought a new position in Denison Mine in the first quarter worth about $26,000. Commonwealth Equity Services LLC raised its stake in Denison Mine by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock worth $36,000 after buying an additional 8,500 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Denison Mine in the fourth quarter worth about $38,000. Finally, Bayesian Capital Management LP bought a new stake in Denison Mine during the 4th quarter valued at approximately $44,000. Hedge funds and other institutional investors own 36.74% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Desjardins started coverage on shares of Denison Mine in a report on Friday, April 4th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Denison Mine has an average rating of "Buy" and an average target price of $3.00.

Denison Mine Trading Down 2.2%

DNN stock traded down $0.05 on Friday, hitting $2.22. The company had a trading volume of 67,046,693 shares, compared to its average volume of 79,206,264. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -27.75 and a beta of 1.48. The stock's 50-day simple moving average is $1.78 and its 200 day simple moving average is $1.69. Denison Mine Corp has a 12-month low of $1.08 and a 12-month high of $2.47.

Denison Mine Company Profile

Denison Mines Corp. engages in the acquisition, exploration, and development of uranium bearing properties in Canada. Its flagship project is the Wheeler River uranium project covering an area of approximately 300,000 hectares located in the Athabasca Basin region in northern Saskatchewan. The company was formerly known as International Uranium Corporation and changed its name to Denison Mines Corp.