Impala Asset Management LLC Takes Position in Denison Mines Corp. (NYSEAMERICAN:DNN)

Impala Asset Management LLC acquired a new stake in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 588,000 shares of the basic materials company’s stock, valued at approximately $1,076,000. Denison Mines comprises about 0.7% of Impala Asset Management LLC’s portfolio, making the stock its 16th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC boosted its holdings in Denison Mines by 78.5% during the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after buying an additional 14,688 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Denison Mines during the third quarter worth $423,000. XTX Topco Ltd raised its position in Denison Mines by 6,560.7% during the third quarter. XTX Topco Ltd now owns 802,020 shares of the basic materials company’s stock worth $1,468,000 after acquiring an additional 789,979 shares during the period. National Bank of Canada FI raised its position in Denison Mines by 89.1% during the third quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company’s stock worth $1,708,000 after acquiring an additional 440,921 shares during the period. Finally, Janus Henderson Group PLC raised its position in Denison Mines by 19.5% during the third quarter. Janus Henderson Group PLC now owns 3,963,565 shares of the basic materials company’s stock worth $7,230,000 after acquiring an additional 647,046 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DNN shares. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, CIBC started coverage on shares of Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Denison Mines presently has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Price Performance

Shares of NYSEAMERICAN DNN opened at $2.19 on Tuesday. Denison Mines Corp. has a 52 week low of $1.40 and a 52 week high of $2.47. The firm has a market capitalization of $1.96 billion, a PE ratio of -219.00 and a beta of 1.71. The firm has a 50-day simple moving average of $2.01.

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.