Van ECK Associates Corp Buys 6,305,332 Shares of Denison Mines Corp. (NYSEAMERICAN:DNN)

Van ECK Associates Corp lifted its position in Denison Mines Corp. (NYSEAMERICAN:DNN - Free Report) TSE: DML by 43.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,879,491 shares of the basic materials company's stock after acquiring an additional 6,305,332 shares during the quarter. Van ECK Associates Corp owned approximately 2.33% of Denison Mines worth $37,595,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Segra Capital Management LLC grew its holdings in shares of Denison Mines by 124.8% during 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 acquiring an additional 10,140,540 shares in the last quarter. Bridgewater Associates LP grew its stake in Denison Mines by 10.2% in the third quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company's stock valued at $15,298,000 after purchasing an additional 774,441 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in 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 worth $7,514,000 after purchasing an additional 3,438,790 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Denison Mines by 19.5% during the 3rd 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 during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Denison Mines by 41.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company's stock valued at $5,989,000 after buying an additional 963,100 shares in the last quarter. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Denison Mines Trading Down 7.4 %

Denison Mines stock traded down $0.13 during trading hours on Monday, reaching $1.62. 53,104,818 shares of the company were exchanged, compared to its average volume of 35,773,492. Denison Mines Corp. has a 12 month low of $1.40 and a 12 month high of $2.47. The firm has a 50-day moving average price of $1.97. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -162.00 and a beta of 1.75.

Analysts Set New Price Targets

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