Short Interest in Denison Mines Corp. (NYSEAMERICAN:DNN) Declines By 6.6%

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 41,320,000 shares, a decline of 6.6% from the October 15th total of 44,220,000 shares. Based on an average daily volume of 18,030,000 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DNN shares. National Bank Financial upgraded Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. CIBC assumed coverage on shares of Denison Mines in a report on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price for the company. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. Cibc World Mkts raised shares of Denison Mines to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Roth Mkm reissued a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. One equities research 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 company’s stock. According to MarketBeat, Denison Mines has an average rating of “Buy” and a consensus target price of $3.00.

Hedge Funds Weigh In On Denison Mines

Institutional investors and hedge funds have recently bought and sold shares of the company. Natixis raised its position in shares of Denison Mines by 270.5% in the first quarter. Natixis now owns 445,808 shares of the basic materials company’s stock valued at $869,000 after purchasing an additional 325,472 shares during the period. Cetera Investment Advisers purchased a new stake in Denison Mines during the 1st quarter worth about $1,758,000. Goehring & Rozencwajg Associates LLC boosted its stake in Denison Mines by 15.5% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 3,579,830 shares of the basic materials company’s stock worth $7,124,000 after purchasing an additional 479,600 shares during the period. Tidal Investments LLC grew its holdings in Denison Mines by 53.9% during the 1st quarter. Tidal Investments LLC now owns 40,049 shares of the basic materials company’s stock valued at $78,000 after buying an additional 14,018 shares in the last quarter. Finally, Azarias Capital Management L.P. increased its position in shares of Denison Mines by 17.0% during the second quarter. Azarias Capital Management L.P. now owns 3,406,586 shares of the basic materials company’s stock valued at $6,779,000 after buying an additional 496,182 shares during the period. 36.74% of the stock is owned by institutional investors.

Denison Mines Trading Up 4.4 %

DNN opened at $2.37 on Wednesday. The company has a 50-day moving average of $1.99. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The stock has a market capitalization of $2.12 billion, a PE ratio of -237.00 and a beta of 1.69.

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.