The Manufacturers Life Insurance Company Makes New Investment in Denison Mine Corp $DNN

Key Points

• The Manufacturers Life Insurance Company acquired 4.09 million Denison Mines shares worth approximately $12.5 million, representing a 0.45% stake. Other institutional investors also initiated positions, bringing total institutional and hedge fund ownership to 36.74%.
• Analysts maintain a generally positive view, with five Buy ratings and one Hold rating. Denison has a consensus rating of “Moderate Buy” and an average price target of $5.38.
• DNN opened at $3.39 after reportedly falling 7.6%, with a 52-week range of $2.20 to $4.43 and a market capitalization of approximately $3.07 billion. The company is developing uranium projects in Saskatchewan, including its flagship Wheeler River project.

The Manufacturers Life Insurance Company bought a new stake in Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,090,630 shares of the basic materials company's stock, valued at approximately $12,507,000. The Manufacturers Life Insurance Company owned about 0.45% of Denison Mine at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DNN. Fiduciary Financial Advisors bought a new stake in shares of Denison Mine during the second quarter worth about $156,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Denison Mine in the 2nd quarter valued at approximately $16,541,000. Bank of Nova Scotia acquired a new stake in Denison Mine during the 2nd quarter worth approximately $4,185,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Denison Mine during the 2nd quarter worth approximately $28,000. Finally, Quantbot Technologies LP bought a new stake in Denison Mine during the 2nd quarter worth approximately $277,000. 36.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Scotiabank restated an "outperform" rating on shares of Denison Mine in a research report on Thursday, May 14th. Royal Bank Of Canada assumed coverage on Denison Mine in a research report on Monday, July 13th. They issued an "outperform" rating on the stock. Finally, Zacks Research downgraded Denison Mine from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $5.38.

Denison Mine Trading Down 7.6%

DNN opened at $3.39 on Friday. Denison Mine Corp has a twelve month low of $2.20 and a twelve month high of $4.43. The company has a fifty day moving average of $3.14 and a 200-day moving average of $3.47. The stock has a market cap of $3.07 billion, a PE ratio of -15.41 and a beta of 1.23. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38.

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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