BNP Paribas Financial Markets Acquires New Shares in Denison Mines Corp. (NYSEAMERICAN:DNN)

BNP Paribas Financial Markets bought a new position in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 275,918 shares of the basic materials company’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DNN. Van ECK Associates Corp lifted its holdings in shares of Denison Mines by 96.8% in the 3rd quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock worth $26,671,000 after acquiring an additional 7,168,934 shares during the last quarter. Lloyd Harbor Capital Management LLC increased its holdings in Denison Mines by 168.5% in the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock valued at $12,288,000 after purchasing an additional 3,875,016 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Denison Mines by 499.0% in the third 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 period. Hood River Capital Management LLC lifted its stake in Denison Mines by 9.2% during the second quarter. Hood River Capital Management LLC now owns 25,263,766 shares of the basic materials company’s stock worth $50,275,000 after purchasing an additional 2,138,603 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Denison Mines by 41.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company’s stock worth $5,989,000 after buying an additional 963,100 shares during the period. Institutional investors and hedge funds own 36.74% of the company’s stock.

Analyst Upgrades and Downgrades

DNN has been the topic of several research analyst reports. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. CIBC started coverage on shares of Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective for the company. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $2.75 target price (up from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3.00.

Denison Mines Stock Down 3.0 %

Shares of DNN opened at $2.09 on Friday. The firm has a 50-day moving average of $2.02. Denison Mines Corp. has a 1 year low of $1.40 and a 1 year high of $2.47. The stock has a market cap of $1.86 billion, a PE ratio of -208.50 and a beta of 1.71.

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.