Denison Mines Corp. (NYSEAMERICAN:DNN) Position Raised by NewEdge Advisors LLC

NewEdge Advisors LLC raised its stake in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 23.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 223,592 shares of the basic materials company’s stock after buying an additional 43,037 shares during the quarter. NewEdge Advisors LLC’s holdings in Denison Mines were worth $402,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Denison Mines by 43.3% in the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock valued at $37,595,000 after buying an additional 6,305,332 shares during the last quarter. Summit Financial LLC bought a new stake in shares of Denison Mines during the fourth quarter valued at about $4,283,000. Titan Global Capital Management USA LLC raised its stake in shares of Denison Mines by 8.9% during the fourth quarter. Titan Global Capital Management USA LLC now owns 2,738,718 shares of the basic materials company’s stock valued at $4,930,000 after purchasing an additional 223,145 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Denison Mines during the fourth quarter valued at about $1,371,000. Finally, Quantbot Technologies LP raised its stake in shares of Denison Mines by 119.9% during the fourth quarter. Quantbot Technologies LP now owns 578,113 shares of the basic materials company’s stock valued at $1,041,000 after purchasing an additional 315,262 shares in the last quarter. 36.74% of the stock is currently owned by institutional investors.

Denison Mines Stock Performance

DNN stock opened at $1.42 on Wednesday. The stock has a market cap of $1.27 billion, a P/E ratio of -142.00 and a beta of 1.75. The firm has a 50 day simple moving average of $1.39 and a 200 day simple moving average of $1.81. Denison Mines Corp. has a 52 week low of $1.08 and a 52 week high of $2.47.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DNN shares. Desjardins initiated coverage on shares of Denison Mines in a research note on Friday, April 4th. They set a “buy” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mines in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $3.00.

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.