Denison Mines (NYSEAMERICAN:DNN) Sets New 12-Month Low - Here's Why

Shares of Denison Mines Corp. (NYSEAMERICAN:DNN - Get Free Report) TSE: DML reached a new 52-week low on Monday . The company traded as low as $1.40 and last traded at $1.41, with a volume of 53337599 shares traded. The stock had previously closed at $1.49.

Denison Mines Price Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -139.00 and a beta of 1.75. The firm has a 50-day simple moving average of $1.82.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new stake in Denison Mines in the fourth quarter valued at approximately $35,837,000. Segra Capital Management LLC raised its position in Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company's stock valued at $33,431,000 after purchasing an additional 10,140,540 shares during the last quarter. Van ECK Associates Corp boosted 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 purchasing an additional 6,305,332 shares during the period. Millennium Management LLC grew its position in Denison Mines by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company's stock worth $9,221,000 after purchasing an additional 4,084,401 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in 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 worth $12,932,000 after purchasing an additional 3,838,504 shares during the last quarter. 36.74% of the stock is owned by hedge funds and other institutional investors.

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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.