Van ECK Associates Corp Raises Holdings in Denison Mine Corp $DNN

Key Points

• Van ECK Associates increased its Denison Mines stake by 22.4% during the second quarter, purchasing 16.0 million additional shares and bringing its total holdings to 87.5 million shares, or approximately 9.67% of the company.
• Institutional interest remained strong, with several funds adding new or larger positions; hedge funds and other institutional investors collectively own 36.74% of Denison Mines.
• Analysts maintain a generally positive view, with five Buy ratings and one Hold rating producing a “Moderate Buy” consensus and a $5.38 price target, compared with the stock’s reported $3.39 opening price.

Van ECK Associates Corp boosted its position in Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,521,620 shares of the basic materials company's stock after purchasing an additional 16,013,484 shares during the quarter. Van ECK Associates Corp owned about 9.67% of Denison Mine worth $267,557,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DNN. Deutsche Bank AG bought a new position in Denison Mine during the second quarter worth about $5,096,000. Bank of America Corp DE increased its holdings in shares of Denison Mine by 77.4% in the first quarter. Bank of America Corp DE now owns 1,743,780 shares of the basic materials company's stock worth $6,156,000 after acquiring an additional 760,719 shares in the last quarter. Goehring & Rozencwajg Associates LLC increased its holdings in shares of Denison Mine by 19.4% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company's stock worth $16,664,000 after acquiring an additional 767,863 shares in the last quarter. Temasek Holdings Private Ltd acquired a new stake in shares of Denison Mine during the first quarter worth about $13,163,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Denison Mine during the second quarter worth about $16,541,000. Hedge funds and other institutional investors own 36.74% of the company's stock.

Wall Street Analyst Weigh In

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

Denison Mine Price Performance

Shares of NYSEAMERICAN DNN opened at $3.39 on Friday. The company has a fifty day moving average price of $3.14 and a 200 day moving average price of $3.47. The firm has a market cap of $3.07 billion, a PE ratio of -15.41 and a beta of 1.23. The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. Denison Mine Corp has a 1-year low of $2.20 and a 1-year high of $4.43.

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.

Want to see what other hedge funds are holding DNN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Denison Mine Corp (NYSEAMERICAN:DNN - Free Report) TSE: DML.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source