Tidal Investments LLC Raises Stake in Denison Mine Corp $DNN

Key Points

• Tidal Investments increased its Denison Mines stake by 210.5% in the second quarter, adding 980,277 shares to hold 1.45 million shares valued at approximately $4.43 million.
• Institutional ownership remains significant, with hedge funds and other institutions holding 36.74% of DNN’s outstanding shares; several major firms also increased their positions.
• Analysts are broadly bullish: six rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average price target of $5.38 versus its recent $3.02 opening price.

Tidal Investments LLC raised its holdings in Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 210.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,446,030 shares of the basic materials company's stock after purchasing an additional 980,277 shares during the quarter. Tidal Investments LLC owned about 0.16% of Denison Mine worth $4,425,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Denison Mine by 14.6% during the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company's stock worth $5,613,000 after buying an additional 550,064 shares during the last quarter. Millennium Management LLC raised its stake in Denison Mine by 11.5% during the 1st quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company's stock valued at $7,423,000 after acquiring an additional 587,352 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Denison Mine by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company's stock valued at $2,194,000 after acquiring an additional 45,125 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Denison Mine by 62.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company's stock valued at $1,955,000 after acquiring an additional 578,365 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Denison Mine by 29.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company's stock worth $102,000 after acquiring an additional 12,705 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DNN has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Denison Mine in a research note on Thursday, September 3rd. They issued a "buy" rating on the stock. Royal Bank Of Canada assumed coverage on Denison Mine in a research note on Monday, July 13th. They set an "outperform" rating for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.38.

Denison Mine Stock Performance

Shares of Denison Mine stock opened at $3.02 on Monday. Denison Mine Corp has a 52-week low of $2.20 and a 52-week high of $4.43. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38. The company's 50-day simple moving average is $3.17 and its 200-day simple moving average is $3.42. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -13.73 and a beta of 1.24.

Denison Mine Company Profile

Denison Mines Corp. is a Canadian uranium exploration and development company focused on advancing uranium projects and acquiring interests in uranium-producing assets. Its activities are concentrated primarily in the Athabasca Basin of northern Saskatchewan, Canada, one of the world's leading uranium-producing regions.

The company's principal development asset is the Wheeler River project, which includes the Phoenix in-situ recovery uranium project and the Gryphon underground project.

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