Polar Asset Management Partners Inc. Makes New Investment in Denison Mines Corp. (NYSEAMERICAN:DNN)

Polar Asset Management Partners Inc. acquired a new stake in shares of Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,077,400 shares of the basic materials company's stock, valued at approximately $1,939,000. Polar Asset Management Partners Inc. owned 0.12% of Denison Mines at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DNN. Oxford Asset Management LLP acquired a new position in Denison Mines during the fourth quarter valued at $26,000. Vantage Point Financial LLC purchased a new position in Denison Mines in the fourth quarter valued at about $34,000. Commonwealth Equity Services LLC grew 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 purchasing an additional 8,500 shares in the last quarter. Headlands Technologies LLC purchased a new position in Denison Mines in the fourth quarter valued at about $38,000. Finally, Bayesian Capital Management LP purchased a new position in Denison Mines in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 36.74% of the company's stock.

Denison Mines Trading Down 1.0%

Shares of NYSEAMERICAN:DNN traded down $0.02 during midday trading on Thursday, hitting $1.51. The company had a trading volume of 40,789,570 shares, compared to its average volume of 32,593,732. Denison Mines Corp. has a 12 month low of $1.08 and a 12 month high of $2.47. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -150.50 and a beta of 1.75. The firm has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.77.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Desjardins initiated coverage on Denison Mines in a research note on Friday, April 4th. They set a "buy" rating for the company. Scotiabank reiterated an "outperform" rating on shares of Denison Mines in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $3.00.

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.