Old West Investment Management LLC Has $531,000 Stock Position in Denison Mine Corp $DNN

Key Points

• Old West Investment Management LLC significantly reduced its position in Denison Mine Corp by 71.8%, now holding 408,311 shares worth $531,000.
• Denison Mine Corp's stock has experienced a 6.7% increase, currently trading at $2.08, while analysts maintain an average price target of $3.00 with multiple "buy" ratings.
• Institutional investors collectively own 36.74% of Denison Mine's stock, with several hedge funds recently adjusting their positions in the company.

Old West Investment Management LLC decreased its position in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 71.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 408,311 shares of the basic materials company's stock after selling 1,042,042 shares during the quarter. Old West Investment Management LLC's holdings in Denison Mine were worth $531,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Oxford Asset Management LLP bought a new position in Denison Mine during the 4th quarter worth approximately $26,000. Sowell Financial Services LLC bought a new stake in Denison Mine during the first quarter valued at $26,000. Providence Capital Advisors LLC bought a new stake in Denison Mine during the first quarter valued at $30,000. Bayesian Capital Management LP bought a new stake in Denison Mine during the fourth quarter valued at $44,000. Finally, Envestnet Asset Management Inc. boosted its position in Denison Mine by 35.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 8,783 shares during the last quarter. Institutional investors own 36.74% of the company's stock.

Denison Mine Stock Up 6.7%

DNN stock opened at $2.08 on Monday. The firm has a market capitalization of $1.86 billion, a PE ratio of -34.67 and a beta of 1.39. The stock's 50 day moving average is $1.97 and its 200-day moving average is $1.68. Denison Mine Corp has a twelve month low of $1.08 and a twelve month high of $2.47.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Securities reaffirmed a "buy" rating on shares of Denison Mine in a research report on Monday, August 11th. Scotiabank restated an "outperform" rating on shares of Denison Mine in a report on Thursday, August 7th. Raymond James Financial restated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. National Bankshares restated an "outperform" rating on shares of Denison Mine in a report on Monday, August 18th. Finally, Desjardins upgraded Denison Mine to a "moderate buy" rating in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat, Denison Mine currently has an average rating of "Buy" and a consensus price target of $3.00.

About Denison Mine

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.

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