Van ECK Associates Corp Purchases 960,585 Shares of Denison Mines Corp. (NYSEAMERICAN:DNN)

Van ECK Associates Corp increased its position in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 22.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,293,313 shares of the basic materials company’s stock after acquiring an additional 960,585 shares during the period. Van ECK Associates Corp owned about 0.59% of Denison Mines worth $10,327,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Avantax Advisory Services Inc. raised its holdings in Denison Mines by 47.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 18,600 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 6,000 shares during the period. HTLF Bank purchased a new stake in Denison Mines in the 4th quarter worth approximately $897,000. Fielder Capital Group LLC bought a new position in shares of Denison Mines in the fourth quarter worth approximately $2,479,000. Quadrature Capital Ltd bought a new stake in shares of Denison Mines during the 4th quarter valued at $1,492,000. Finally, MMCAP International Inc. SPC boosted its holdings in Denison Mines by 37.7% in the 4th quarter. MMCAP International Inc. SPC now owns 31,390,336 shares of the basic materials company’s stock worth $54,148,000 after buying an additional 8,592,121 shares during the period. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Price Performance

Shares of NYSEAMERICAN:DNN traded down $0.04 during trading hours on Friday, hitting $2.08. 6,766,065 shares of the company’s stock traded hands, compared to its average volume of 15,176,966. The firm has a market capitalization of $1.86 billion, a PE ratio of 30.29 and a beta of 1.73. Denison Mines Corp. has a 1 year low of $1.15 and a 1 year high of $2.47.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $0.62 million during the quarter. Denison Mines had a net margin of 888.36% and a return on equity of 12.96%. Equities research analysts expect that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Roth Capital raised Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. Roth Mkm initiated coverage on shares of Denison Mines in a research report on Thursday, June 27th. They set a “buy” rating and a $2.60 target price for the company. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday. Finally, StockNews.com upgraded Denison Mines to a “sell” rating in a research report on Sunday, May 19th. One research analyst has rated the stock with a sell rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $2.60.

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.