NewGen Asset Management Ltd Acquires Shares of 3,000,000 Denison Mines Corp. (NYSEAMERICAN:DNN)

NewGen Asset Management Ltd bought a new stake 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 (SEC). The institutional investor bought 3,000,000 shares of the basic materials company's stock, valued at approximately $5,441,000. Denison Mines comprises 4.9% of NewGen Asset Management Ltd's investment portfolio, making the stock its 6th biggest position. NewGen Asset Management Ltd owned about 0.33% of Denison Mines as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Denison Mines by 43.3% in the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock valued at $37,595,000 after acquiring an additional 6,305,332 shares during the last quarter. Summit Financial LLC bought a new position in shares of Denison Mines in the 4th quarter valued at $4,283,000. Titan Global Capital Management USA LLC increased its holdings in Denison Mines by 8.9% in the fourth quarter. Titan Global Capital Management USA LLC now owns 2,738,718 shares of the basic materials company's stock valued at $4,930,000 after purchasing an additional 223,145 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in Denison Mines in the fourth quarter valued at $1,371,000. Finally, Quantbot Technologies LP increased its holdings in Denison Mines by 119.9% in the fourth quarter. Quantbot Technologies LP now owns 578,113 shares of the basic materials company's stock valued at $1,041,000 after purchasing an additional 315,262 shares during the period. Institutional investors and hedge funds own 36.74% of the company's stock.

Denison Mines Trading Down 0.7 %

Denison Mines stock traded down $0.01 during trading on Wednesday, reaching $1.41. The company had a trading volume of 57,101,190 shares, compared to its average volume of 30,278,010. Denison Mines Corp. has a 52 week low of $1.08 and a 52 week high of $2.47. The firm's 50-day simple moving average is $1.39 and its 200 day simple moving average is $1.81. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -141.00 and a beta of 1.75.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DNN. Desjardins began coverage on Denison Mines in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Scotiabank reissued an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Denison Mines currently has a consensus rating of "Buy" and an average price target of $3.00.

Denison Mines Company 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.