Denison Mines Corp. (NYSEAMERICAN:DNN) Sees Significant Drop in Short Interest

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 35,590,000 shares, a decline of 11.4% from the August 15th total of 40,150,000 shares. Based on an average daily volume of 4,230,000 shares, the short-interest ratio is currently 8.4 days.

Denison Mines Price Performance

Shares of Denison Mines stock remained flat at $1.65 during trading on Monday. The stock had a trading volume of 9,589,118 shares, compared to its average volume of 4,662,466. The company’s 50 day moving average price is $1.20. Denison Mines has a 12-month low of $0.92 and a 12-month high of $1.67.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings data on Thursday, August 10th. The basic materials company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $2.60 million for the quarter. Denison Mines had a negative return on equity of 3.24% and a negative net margin of 136.87%. On average, analysts expect that Denison Mines will post -0.02 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on DNN. Cormark raised Denison Mines to a “buy” rating in a research report on Tuesday, June 27th. Raymond James dropped their price target on Denison Mines from C$2.50 to C$2.40 in a research report on Tuesday, June 27th. StockNews.com raised Denison Mines to a “sell” rating in a research report on Thursday, September 7th. Finally, TD Securities upped their price target on Denison Mines from C$2.25 to C$2.50 in a research report on Tuesday, June 27th.

Hedge Funds Weigh In On Denison Mines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Denison Mines by 9.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,894,150 shares of the basic materials company’s stock worth $53,810,000 after buying an additional 3,554,195 shares during the last quarter. Segra Capital Management LLC grew its position in shares of Denison Mines by 10.5% in the 2nd quarter. Segra Capital Management LLC now owns 29,603,529 shares of the basic materials company’s stock worth $37,004,000 after buying an additional 2,811,997 shares during the last quarter. MMCAP International Inc. SPC grew its position in shares of Denison Mines by 16.0% in the 1st quarter. MMCAP International Inc. SPC now owns 28,389,927 shares of the basic materials company’s stock worth $30,942,000 after buying an additional 3,912,734 shares during the last quarter. Hood River Capital Management LLC grew its position in shares of Denison Mines by 10.8% in the 1st quarter. Hood River Capital Management LLC now owns 23,920,381 shares of the basic materials company’s stock worth $26,073,000 after buying an additional 2,331,888 shares during the last quarter. Finally, Lloyd Harbor Capital Management LLC grew its position in shares of Denison Mines by 1.4% in the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 14,065,543 shares of the basic materials company’s stock worth $17,582,000 after buying an additional 195,383 shares during the last quarter. 30.93% of the stock is currently owned by institutional investors.

Denison Mines Company Profile

Denison Mines Corp. operates as a uranium exploration and development company in Canada. Its flagship project is the 95% interest owned 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.