Cinctive Capital Management LP Purchases Shares of 2,188,272 Denison Mines Corp. (NYSEAMERICAN:DNN)

Cinctive Capital Management LP purchased a new stake in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,188,272 shares of the basic materials company's stock, valued at approximately $3,939,000. Cinctive Capital Management LP owned about 0.24% of Denison Mines at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Segra Capital Management LLC lifted its holdings in Denison Mines by 124.8% during the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company's stock worth $33,431,000 after acquiring an additional 10,140,540 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Denison Mines by 43.3% during the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company's stock worth $37,595,000 after purchasing an additional 6,305,332 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Denison Mines by 116.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company's stock valued at $12,932,000 after purchasing an additional 3,838,504 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Denison Mines by 499.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company's stock valued at $7,514,000 after purchasing an additional 3,438,790 shares during the period. Finally, Summit Financial LLC bought a new stake in Denison Mines during the 4th quarter worth approximately $4,283,000. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of Denison Mines in a research note on Tuesday, March 25th. Desjardins started coverage on Denison Mines in a research report on Friday. They set a "buy" rating for the company. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $3.00.

Denison Mines Price Performance

DNN stock traded up $0.02 during midday trading on Tuesday, hitting $1.20. The company's stock had a trading volume of 22,633,702 shares, compared to its average volume of 27,242,730. The company's fifty day moving average price is $1.58 and its 200 day moving average price is $1.88. Denison Mines Corp. has a twelve month low of $1.08 and a twelve month high of $2.47. The stock has a market capitalization of $1.07 billion, a P/E ratio of -119.50 and a beta of 1.75.

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.