Point72 Asset Management L.P. Acquires 558,200 Shares of Denison Mines Corp. (NYSEAMERICAN:DNN)

Point72 Asset Management L.P. lifted its stake in shares of Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,165,800 shares of the basic materials company's stock after purchasing an additional 558,200 shares during the quarter. Point72 Asset Management L.P. owned about 1.13% of Denison Mines worth $18,298,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DNN. Fiduciary Family Office LLC bought a new stake in shares of Denison Mines in the 4th quarter worth $50,000. Vantage Point Financial LLC bought a new stake in Denison Mines in the 4th quarter worth about $34,000. Van ECK Associates Corp grew its position in Denison Mines by 43.3% in the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after purchasing an additional 6,305,332 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Denison Mines by 92.6% in the 4th quarter. Vontobel Holding Ltd. now owns 196,336 shares of the basic materials company's stock valued at $356,000 after buying an additional 94,419 shares during the last quarter. Finally, Legacy Capital Group California Inc. lifted its position in shares of Denison Mines by 26.2% during the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock worth $78,000 after buying an additional 9,002 shares in the last quarter. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DNN. Desjardins initiated coverage on Denison Mines in a research note on Friday, April 4th. They set a "buy" rating on the stock. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Price Performance

Denison Mines stock traded up $0.17 during mid-day trading on Friday, hitting $1.67. The company's stock had a trading volume of 72,301,528 shares, compared to its average volume of 32,983,197. The business has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.77. Denison Mines Corp. has a 12 month low of $1.08 and a 12 month high of $2.47. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -165.50 and a beta of 1.75.

Denison Mines 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.