Short Interest in Denison Mines Corp. (NYSEAMERICAN:DNN) Grows By 5.6%

Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 47,570,000 shares, an increase of 5.6% from the December 31st total of 45,050,000 shares. Based on an average trading volume of 22,380,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of Denison Mines

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of Denison Mines in the third quarter worth about $505,000. National Bank of Canada FI lifted its position in shares of Denison Mines by 89.1% in the third quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company's stock worth $1,708,000 after purchasing an additional 440,921 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company's stock worth $61,000 after purchasing an additional 14,688 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Denison Mines by 499.0% during the third 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 last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Denison Mines by 19.5% in the third quarter. Janus Henderson Group PLC now owns 3,963,565 shares of the basic materials company's stock valued at $7,230,000 after buying an additional 647,046 shares in the last quarter. Institutional investors own 36.74% of the company's stock.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a "buy" rating and issued a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $3.00.

Denison Mines Price Performance

Denison Mines stock traded down $0.07 during mid-day trading on Thursday, hitting $1.79. The stock had a trading volume of 32,117,495 shares, compared to its average volume of 36,457,457. Denison Mines has a 12 month low of $1.40 and a 12 month high of $2.47. The firm's 50-day moving average is $1.99. The firm has a market cap of $1.60 billion, a PE ratio of -179.00 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.