GeoSphere Capital Management LLC Makes New Investment in Denison Mines Corp. (NYSEAMERICAN:DNN)

GeoSphere Capital Management LLC purchased a new position in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,000,000 shares of the basic materials company's stock, valued at approximately $1,800,000. Denison Mines accounts for about 0.8% of GeoSphere Capital Management LLC's holdings, making the stock its 25th largest holding. GeoSphere Capital Management LLC owned 0.11% of Denison Mines as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its stake in Denison Mines by 74.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 8,500 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Denison Mines by 35.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,633 shares of the basic materials company's stock valued at $61,000 after acquiring an additional 8,783 shares during the period. Legacy Capital Group California Inc. increased its stake in shares of Denison Mines by 26.2% in the 4th quarter. Legacy Capital Group California Inc. now owns 43,374 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 9,002 shares in the last quarter. Old West Investment Management LLC raised its holdings in Denison Mines by 0.7% in the 4th quarter. Old West Investment Management LLC now owns 1,450,353 shares of the basic materials company's stock worth $2,611,000 after purchasing an additional 10,251 shares during the period. Finally, Geode Capital Management LLC boosted its position in Denison Mines by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 432,019 shares of the basic materials company's stock worth $792,000 after purchasing an additional 11,296 shares in the last quarter. Institutional investors own 36.74% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DNN. Scotiabank reaffirmed an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins started coverage on shares of Denison Mines in a research report on Friday, April 4th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mines Price Performance

Shares of NYSEAMERICAN:DNN traded down $0.03 during trading on Tuesday, hitting $1.52. 6,305,271 shares of the company were exchanged, compared to its average volume of 31,533,860. The firm's 50 day moving average price is $1.38 and its 200-day moving average price is $1.78. The stock has a market capitalization of $1.36 billion, a P/E ratio of -151.70 and a beta of 1.75. Denison Mines Corp. has a 12-month low of $1.08 and a 12-month high of $2.47.

Denison Mines 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.