JPMorgan Chase & Co. Takes $501,000 Position in Denison Mines Corp. (NYSEAMERICAN:DNN)

JPMorgan Chase & Co. purchased a new stake in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 278,569 shares of the basic materials company's stock, valued at approximately $501,000.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Denison Mines by 43.3% during the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after buying an additional 6,305,332 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Denison Mines by 116.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock worth $12,932,000 after acquiring an additional 3,838,504 shares during the period. Ninepoint Partners LP acquired a new stake in shares of Denison Mines in the fourth quarter valued at $1,620,000. PCJ Investment Counsel Ltd. boosted its holdings in Denison Mines by 11.9% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 888,690 shares of the basic materials company's stock valued at $1,612,000 after purchasing an additional 94,300 shares during the period. Finally, Prescott Group Capital Management L.L.C. purchased a new position in shares of Denison Mines in the 4th quarter valued at about $1,371,000. Hedge funds and other institutional investors own 36.74% of the company's stock.

Denison Mines Stock Up 5.7 %

NYSEAMERICAN:DNN traded up $0.08 during midday trading on Tuesday, reaching $1.49. The stock had a trading volume of 78,764,474 shares, compared to its average volume of 31,068,352. The stock has a market cap of $1.33 billion, a P/E ratio of -149.00 and a beta of 1.75. The firm has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.80. Denison Mines Corp. has a 12-month low of $1.08 and a 12-month high of $2.47.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DNN shares. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a report on Tuesday, March 25th. Desjardins started coverage on Denison Mines in a research report on Friday, April 4th. They issued a "buy" rating for the company. One analyst has rated the stock with a sell rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $3.00.

About Denison Mines

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.