Denison Mines Corp. (NYSEAMERICAN:DNN) Short Interest Down 5.0% in September

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 40,710,000 shares, a decline of 5.0% from the September 15th total of 42,860,000 shares. Based on an average trading volume of 17,250,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Trading of Denison Mines

A number of institutional investors have recently made changes to their positions in DNN. Lloyd Harbor Capital Management LLC boosted its position in Denison Mines by 168.5% during 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 during the last quarter. Hood River Capital Management LLC grew its position in shares of Denison Mines by 9.2% in 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 purchasing an additional 2,138,603 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Denison Mines by 39.9% in the second quarter. Van ECK Associates Corp now owns 7,405,225 shares of the basic materials company’s stock valued at $14,748,000 after purchasing an additional 2,111,912 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Denison Mines in the first quarter valued at approximately $1,758,000. Finally, Vident Advisory LLC lifted its position in Denison Mines by 15.0% during the first quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after buying an additional 884,599 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mines Price Performance

NYSEAMERICAN:DNN opened at $2.38 on Friday. The firm has a market cap of $2.12 billion, a PE ratio of 39.58 and a beta of 1.71. Denison Mines has a 52 week low of $1.40 and a 52 week high of $2.47. The company’s 50-day simple moving average is $1.98.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on DNN shares. BMO Capital Markets raised Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. CIBC initiated coverage on shares of Denison Mines in a research note on Thursday, September 26th. They issued a “sector outperform” rating and a $3.25 target price for the company. National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Scotiabank raised shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $2.93.

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.