Renaissance Technologies LLC Raises Stake in Denison Mine Corp $DNN

Key Points

• Renaissance Technologies increased its Denison Mines stake by 275% in the first quarter, adding 6.93 million shares to own 9.46 million shares, or 1.05% of the company. Institutional investors collectively own 36.74% of DNN.
• Denison Mines shares opened at $2.75, down 5.8%, with the stock trading below both its 50-day and 200-day moving averages. DNN has ranged from $1.86 to $4.43 over the past year.
• Analysts remain broadly positive, with six Buy ratings and one Hold, producing a consensus “Moderate Buy” rating and an average price target of $5.38. Denison focuses on uranium projects in Saskatchewan, including its flagship Wheeler River project.

Renaissance Technologies LLC increased its holdings in shares of Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 275.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,455,713 shares of the basic materials company's stock after purchasing an additional 6,934,400 shares during the quarter. Renaissance Technologies LLC owned 1.05% of Denison Mine worth $33,379,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DNN. WealthShield Partners LLC lifted its position in Denison Mine by 28.0% during the fourth quarter. WealthShield Partners LLC now owns 16,000 shares of the basic materials company's stock valued at $43,000 after buying an additional 3,500 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Denison Mine by 26.1% in the 4th quarter. Park Avenue Securities LLC now owns 17,068 shares of the basic materials company's stock valued at $45,000 after acquiring an additional 3,533 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Denison Mine by 42.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 12,920 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 3,844 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in shares of Denison Mine by 33.3% during the 1st quarter. NewEdge Wealth LLC now owns 20,000 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Financial Sense Advisors Inc. boosted its position in Denison Mine by 36.3% during the 4th quarter. Financial Sense Advisors Inc. now owns 18,786 shares of the basic materials company's stock worth $50,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 36.74% of the company's stock.

Denison Mine Trading Down 5.8%

NYSEAMERICAN DNN opened at $2.75 on Wednesday. The stock has a market cap of $2.49 billion, a P/E ratio of -11.96 and a beta of 1.21. The company's fifty day simple moving average is $3.16 and its 200-day simple moving average is $3.55. The company has a current ratio of 13.77, a quick ratio of 13.46 and a debt-to-equity ratio of 2.81. Denison Mine Corp has a 52 week low of $1.86 and a 52 week high of $4.43.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DNN shares. Scotiabank reissued an "outperform" rating on shares of Denison Mine in a research report on Thursday, May 14th. Royal Bank Of Canada began coverage on Denison Mine in a research report on Monday, July 13th. They issued an "outperform" rating for the company. Finally, Zacks Research lowered Denison Mine from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 15th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.38.

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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