Denison Mines Corp. (NYSEAMERICAN:DNN) Sees Large Increase in Short Interest

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 47,570,000 shares, an increase of 5.6% from the December 15th total of 45,050,000 shares. Based on an average daily volume of 22,380,000 shares, the short-interest ratio is presently 2.1 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DNN shares. CIBC began coverage on Denison Mines in a report on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 target price for the company. Cibc World Mkts upgraded shares of Denison Mines to a “strong-buy” rating in a research note on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research report on Wednesday, September 25th. Finally, Roth Mkm restated a “buy” rating and issued a $2.75 price target (up previously from $2.60) on shares of Denison Mines in a research report on Wednesday, October 23rd. One 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. Based on data from MarketBeat.com, Denison Mines presently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Price Performance

NYSEAMERICAN DNN traded up $0.02 on Friday, hitting $1.88. 34,839,716 shares of the company’s stock were exchanged, compared to its average volume of 19,216,908. Denison Mines has a 52 week low of $1.40 and a 52 week high of $2.47. The business has a 50-day moving average price of $2.00.

Institutional Trading of Denison Mines

Large investors have recently bought and sold shares of the business. Segra Capital Management LLC raised its stake in Denison Mines by 124.8% during the third quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after acquiring an additional 10,140,540 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Denison Mines by 96.8% during the 3rd 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 during the last quarter. Lloyd Harbor Capital Management LLC increased its position in Denison Mines by 168.5% during the 2nd quarter. Lloyd Harbor Capital Management LLC now owns 6,175,016 shares of the basic materials company’s stock worth $12,288,000 after purchasing an additional 3,875,016 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Denison Mines by 499.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock valued at $7,514,000 after purchasing an additional 3,438,790 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its position in 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 buying an additional 2,138,603 shares in the last quarter. 36.74% of the stock is owned by institutional investors and hedge funds.

About Denison Mines

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.