Denison Mines Corp. (NYSEAMERICAN:DNN) Short Interest Update

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 41,320,000 shares, a decrease 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.

Denison Mines Stock Performance

Shares of DNN opened at $2.37 on Wednesday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -237.00 and a beta of 1.69. Denison Mines has a 52-week low of $1.40 and a 52-week high of $2.47. The firm has a 50 day simple moving average of $1.99.

Analyst Ratings Changes

Several analysts recently weighed in on DNN shares. Cibc World Mkts raised Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets raised shares of Denison Mines from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Denison Mines to a “sell” rating in a research note on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $2.75 target price (up previously from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. Finally, National Bank Financial upgraded shares of Denison Mines to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $3.00.

Hedge Funds Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently made changes to their positions in DNN. Texas Capital Bank Wealth Management Services Inc raised its stake in Denison Mines by 40.0% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 70,000 shares of the basic materials company’s stock worth $136,000 after buying an additional 20,000 shares during the period. Natixis raised its position in shares of Denison Mines by 270.5% during the first quarter. Natixis now owns 445,808 shares of the basic materials company’s stock worth $869,000 after purchasing an additional 325,472 shares during the period. Vident Advisory LLC lifted its holdings in shares of Denison Mines by 15.0% in the 1st quarter. Vident Advisory LLC now owns 6,764,463 shares of the basic materials company’s stock worth $13,191,000 after purchasing an additional 884,599 shares in the last quarter. Connective Capital Management LLC acquired a new stake in Denison Mines in the 1st quarter valued at $602,000. Finally, Tidal Investments LLC increased its stake 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 purchasing an additional 14,018 shares in the last quarter. Institutional investors own 36.74% of the company’s stock.

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.