Catalyst Funds Management Pty Ltd Makes New Investment in Denison Mine Corp $DNN

Catalyst Funds Management Pty Ltd purchased a new stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 1,877,700 shares of the basic materials company’s stock, valued at approximately $3,417,000. Denison Mine comprises about 0.9% of Catalyst Funds Management Pty Ltd’s portfolio, making the stock its 16th largest position. Catalyst Funds Management Pty Ltd owned 0.21% of Denison Mine at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. WealthShield Partners LLC increased its stake in Denison Mine by 50.0% in the second quarter. WealthShield Partners LLC now owns 18,000 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 6,000 shares during the last quarter. R Squared Ltd acquired a new position in shares of Denison Mine during the 2nd quarter valued at about $39,000. Advisory Alpha LLC purchased a new position in shares of Denison Mine during the 2nd quarter worth about $40,000. Providence Capital Advisors LLC acquired a new stake in shares of Denison Mine in the first quarter worth approximately $30,000. Finally, HFG Wealth Management LLC acquired a new stake in shares of Denison Mine in the second quarter worth approximately $45,000. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mine Trading Up 2.1%

NYSEAMERICAN:DNN opened at $2.43 on Thursday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -40.50 and a beta of 1.32. The firm’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $2.19. Denison Mine Corp has a twelve month low of $1.08 and a twelve month high of $3.42.

Wall Street Analyst Weigh In

DNN has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Denison Mine in a research report on Friday, October 10th. Scotiabank restated an “outperform” rating on shares of Denison Mine in a report on Thursday, August 7th. Desjardins upgraded Denison Mine to a “moderate buy” rating in a report on Monday, August 18th. TD Securities reissued a “buy” rating on shares of Denison Mine in a research report on Monday, August 11th. Finally, National Bankshares restated an “outperform” rating on shares of Denison Mine in a research note on Monday, August 18th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

About Denison Mine

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.