Denison Mines Corp. (NYSEAMERICAN:DNN) Short Interest Update

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 47,570,000 shares, an increase of 5.6% from the December 15th total of 45,050,000 shares. Based on an average daily volume of 22,380,000 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

DNN has been the topic of several recent research reports. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. Finally, CIBC began coverage on Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $3.00.

Hedge Funds Weigh In On Denison Mines

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in Denison Mines in the third quarter valued at approximately $505,000. National Bank of Canada FI increased its holdings in shares of Denison Mines by 89.1% during the 3rd 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 last quarter. Continuum Advisory LLC raised its stake in Denison Mines by 78.5% in the 3rd quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 14,688 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Denison Mines by 499.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock valued at $7,514,000 after purchasing an additional 3,438,790 shares during the last quarter. Finally, Janus Henderson Group PLC boosted 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 purchasing an additional 647,046 shares during the period. 36.74% of the stock is owned by institutional investors.

Denison Mines Stock Performance

DNN traded up $0.02 on Friday, hitting $1.88. 34,839,716 shares of the company were exchanged, compared to its average volume of 19,216,908. Denison Mines has a 12 month low of $1.40 and a 12 month high of $2.47. The company has a fifty day moving average price of $2.00.

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.