Confluence Investment Management LLC Raises Stock Position in Denison Mines Corp. (NYSEAMERICAN:DNN)

Confluence Investment Management LLC grew its stake in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 267,217 shares of the basic materials company’s stock after purchasing an additional 9,831 shares during the period. Confluence Investment Management LLC’s holdings in Denison Mines were worth $481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hood River Capital Management LLC grew its stake in Denison Mines by 9.2% in 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 during the period. Segra Capital Management LLC grew its position in shares of Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after buying an additional 10,140,540 shares during the period. Van ECK Associates Corp grew its position 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 buying an additional 7,168,934 shares during the period. Point72 Asset Management L.P. lifted its position in Denison Mines by 0.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,135,800 shares of the basic materials company’s stock valued at $20,170,000 after acquiring an additional 46,000 shares during the period. Finally, Bridgewater Associates LP lifted its position in Denison Mines by 10.2% during the 3rd quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company’s stock valued at $15,298,000 after acquiring an additional 774,441 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mines Trading Up 15.6 %

Shares of DNN opened at $2.08 on Friday. The stock has a market cap of $1.86 billion, a P/E ratio of -208.00 and a beta of 1.71. The company’s fifty day simple moving average is $2.01. Denison Mines Corp. has a 12 month low of $1.40 and a 12 month high of $2.47.

Analyst Ratings Changes

A number of equities analysts have weighed in on DNN shares. 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. CIBC assumed coverage on Denison Mines in a research report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Roth Mkm reissued a “buy” rating and issued a $2.75 target price (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Denison Mines has a consensus rating of “Buy” and a consensus target price of $3.00.

Denison Mines 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.