Denison Mines (NYSEAMERICAN:DNN) Sees Strong Trading Volume – Still a Buy?

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) shares saw strong trading volume on Friday . 35,225,085 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 22,789,136 shares.The stock last traded at $1.39 and had previously closed at $1.43.

Denison Mines Price Performance

The company has a market cap of $1.26 billion, a PE ratio of -140.50 and a beta of 1.75. The firm’s 50-day simple moving average is $1.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. bought a new stake in Denison Mines during the 4th quarter worth $1,939,000. Mackenzie Financial Corp increased its stake in shares of Denison Mines by 3.9% in the fourth quarter. Mackenzie Financial Corp now owns 450,247 shares of the basic materials company’s stock valued at $817,000 after buying an additional 17,087 shares during the period. Two Sigma Investments LP raised its holdings in Denison Mines by 2.9% in the 4th quarter. Two Sigma Investments LP now owns 586,371 shares of the basic materials company’s stock valued at $1,055,000 after buying an additional 16,310 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Denison Mines by 5.8% during the 4th quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company’s stock worth $18,298,000 after buying an additional 558,200 shares during the period. Finally, Millennium Management LLC grew its holdings in Denison Mines by 393.3% during the 4th quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock worth $9,221,000 after acquiring an additional 4,084,401 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

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.