BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Stake in Denison Mines Corp. (NYSEAMERICAN:DNN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 13.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,355 shares of the basic materials company’s stock after selling 73,681 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Denison Mines worth $934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DNN. Hood River Capital Management LLC raised its holdings in shares of 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 during the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Denison Mines by 15.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock valued at $7,124,000 after buying an additional 479,600 shares during the last quarter. Old West Investment Management LLC lifted its holdings in shares of Denison Mines by 1.2% in the 2nd quarter. Old West Investment Management LLC now owns 1,437,886 shares of the basic materials company’s stock valued at $2,861,000 after buying an additional 17,648 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Denison Mines by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 784,554 shares of the basic materials company’s stock worth $1,562,000 after buying an additional 132,141 shares during the last quarter. Finally, Rathbones Group PLC grew its holdings in Denison Mines by 66.0% during the second quarter. Rathbones Group PLC now owns 96,300 shares of the basic materials company’s stock worth $193,000 after acquiring an additional 38,300 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Roth Capital raised Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. StockNews.com raised shares of Denison Mines to a “sell” rating in a report on Wednesday, July 31st. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. 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. Finally, CIBC began coverage on Denison Mines in a research report on Thursday. They set a “sector outperform” rating and a $3.25 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Denison Mines presently has a consensus rating of “Buy” and a consensus target price of $2.93.

Denison Mines Stock Performance

DNN opened at $1.87 on Monday. The firm has a market cap of $1.67 billion, a P/E ratio of 26.71 and a beta of 1.70. Denison Mines Corp. has a twelve month low of $1.40 and a twelve month high of $2.47. The stock’s 50-day moving average is $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Denison Mines had a return on equity of 9.45% and a net margin of 950.42%. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, sell-side analysts expect that Denison Mines Corp. will post -0.06 earnings per share for the current year.

Denison Mines Company 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.