Point72 Asset Management L.P. Cuts Stock Holdings in Denison Mines Corp. (NYSEAMERICAN:DNN)

Point72 Asset Management L.P. lowered its stake in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,607,600 shares of the basic materials company’s stock after selling 528,200 shares during the period. Point72 Asset Management L.P. owned approximately 1.08% of Denison Mines worth $17,582,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DNN. Van ECK Associates Corp increased its stake in shares of Denison Mines by 96.8% during the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock valued at $26,671,000 after purchasing an additional 7,168,934 shares in the last quarter. Lloyd Harbor Capital Management LLC boosted its holdings in Denison Mines by 168.5% in the second quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after acquiring an additional 3,875,016 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Denison Mines by 499.0% in the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after acquiring an additional 3,438,790 shares during the last quarter. Hood River Capital Management LLC increased 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 valued at $50,275,000 after acquiring an additional 2,138,603 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Denison Mines by 41.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company’s stock worth $5,989,000 after purchasing an additional 963,100 shares during the last quarter. Institutional investors own 36.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on DNN shares. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. CIBC initiated coverage on Denison Mines in a research report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 price objective on the stock. Roth Mkm reissued a “buy” rating and issued a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Finally, Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $3.00.

Denison Mines Stock Performance

Shares of NYSEAMERICAN:DNN opened at $2.30 on Friday. The business has a 50 day moving average price of $2.01. The company has a market capitalization of $2.05 billion, a PE ratio of -229.50 and a beta of 1.71. Denison Mines Corp. has a 52-week low of $1.40 and a 52-week high of $2.47.

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.