Capital Research Global Investors Sells 3,431,119 Shares of Denison Mine Corp $DNN

Capital Research Global Investors cut its stake in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 30.0% in the third quarter, Holdings Channel reports. The firm owned 8,024,816 shares of the basic materials company’s stock after selling 3,431,119 shares during the quarter. Capital Research Global Investors’ holdings in Denison Mine were worth $22,085,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Denison Mine by 1,697.4% in the third quarter. Vanguard Group Inc. now owns 13,263,903 shares of the basic materials company’s stock valued at $36,502,000 after buying an additional 12,525,956 shares during the period. Vident Advisory LLC grew its position in shares of Denison Mine by 41.9% during the 2nd quarter. Vident Advisory LLC now owns 9,755,610 shares of the basic materials company’s stock worth $17,755,000 after buying an additional 2,881,618 shares during the period. DAVENPORT & Co LLC grew its position in shares of Denison Mine by 4,648.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 7,123,000 shares of the basic materials company’s stock worth $19,588,000 after buying an additional 6,973,000 shares during the period. Millennium Management LLC increased its stake in shares of Denison Mine by 11.5% in the 1st quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock valued at $7,423,000 after acquiring an additional 587,352 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Denison Mine in the 2nd quarter valued at approximately $7,998,000. Institutional investors own 36.74% of the company’s stock.

Denison Mine Trading Up 0.2%

NYSEAMERICAN DNN opened at $4.01 on Friday. The firm has a market cap of $3.62 billion, a P/E ratio of -23.59 and a beta of 1.18. The company has a debt-to-equity ratio of 1.49, a current ratio of 11.97 and a quick ratio of 11.78. The stock’s 50-day moving average is $3.82 and its 200-day moving average is $3.06. Denison Mine Corp has a one year low of $1.08 and a one year high of $4.43.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DNN shares. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research note on Friday, February 20th. Roth Mkm reaffirmed a “buy” rating and issued a $4.25 target price on shares of Denison Mine in a research note on Wednesday, February 18th. TD Securities increased their target price on shares of Denison Mine from $6.00 to $6.50 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James Financial reissued an “outperform” rating on shares of Denison Mine in a research report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.38.

Denison Mine Company Profile

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.