Cubist Systematic Strategies LLC Reduces Holdings in Denison Mines Corp. (NYSEAMERICAN:DNN)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 37.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,252 shares of the basic materials company’s stock after selling 100,234 shares during the period. Cubist Systematic Strategies LLC’s holdings in Denison Mines were worth $335,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC increased its position in Denison Mines by 95.7% during the 4th quarter. Virtu Financial LLC now owns 197,401 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 96,553 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Denison Mines in the fourth quarter valued at approximately $1,492,000. Confluence Investment Management LLC purchased a new position in shares of Denison Mines during the first quarter valued at approximately $482,000. &PARTNERS acquired a new stake in Denison Mines during the first quarter worth approximately $34,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Denison Mines in the 1st quarter worth approximately $366,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. CIBC started coverage on Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price target on the stock. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Roth Capital upgraded shares of Denison Mines to a “strong-buy” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $2.93.

Denison Mines Trading Up 2.1 %

Denison Mines stock opened at $1.92 on Monday. Denison Mines Corp. has a 12 month low of $1.40 and a 12 month high of $2.47. The stock has a market cap of $1.71 billion, a P/E ratio of 32.00 and a beta of 1.71. The stock has a 50-day moving average price of $1.98.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings results on Thursday, August 8th. The basic materials company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Denison Mines had a net margin of 950.42% and a return on equity of 9.45%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.80 million. Analysts expect that Denison Mines Corp. will post -0.06 EPS for the current fiscal year.

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.