Millennium Management LLC Acquires 4,084,401 Shares of Denison Mines Corp. (NYSEAMERICAN:DNN)

Millennium Management LLC grew its stake in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 393.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,122,978 shares of the basic materials company’s stock after buying an additional 4,084,401 shares during the period. Millennium Management LLC owned 0.57% of Denison Mines worth $9,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Oxford Asset Management LLP purchased a new stake in shares of Denison Mines during the 4th quarter worth approximately $26,000. Vantage Point Financial LLC bought a new stake in Denison Mines in the fourth quarter worth $34,000. Commonwealth Equity Services LLC raised its stake in Denison Mines by 74.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 8,500 shares in the last quarter. Headlands Technologies LLC bought a new position in Denison Mines during the fourth quarter valued at $38,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Denison Mines in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Price Performance

NYSEAMERICAN DNN opened at $1.68 on Monday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -168.00 and a beta of 1.75. The stock’s fifty day moving average price is $1.39 and its 200 day moving average price is $1.76. Denison Mines Corp. has a 1 year low of $1.08 and a 1 year high of $2.47.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DNN shares. Desjardins started coverage on shares of Denison Mines in a research report on Friday, April 4th. They set a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Denison Mines in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $3.00.

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.