Denison Mines (NYSEAMERICAN:DNN) Trading Down 5% – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML)’s stock price was down 5% during trading on Tuesday . The stock traded as low as $1.43 and last traded at $1.44. Approximately 33,194,485 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 49,155,410 shares. The stock had previously closed at $1.51.

Denison Mines Stock Performance

The stock has a 50-day moving average of $1.71 and a 200 day moving average of $1.93. The firm has a market capitalization of $1.32 billion, a P/E ratio of -147.00 and a beta of 1.75.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC grew its stake in Denison Mines by 54.2% in the third quarter. SevenBridge Financial Group LLC now owns 37,000 shares of the basic materials company’s stock valued at $68,000 after acquiring an additional 13,000 shares during the period. The Manufacturers Life Insurance Company lifted its position in Denison Mines by 499.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after buying an additional 3,438,790 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Denison Mines in the third quarter valued at approximately $505,000. Bridgewater Associates LP increased its holdings in Denison Mines by 10.2% during the third quarter. Bridgewater Associates LP now owns 8,359,815 shares of the basic materials company’s stock worth $15,298,000 after buying an additional 774,441 shares during the last quarter. Finally, De Lisle Partners LLP grew its position in shares of Denison Mines by 9.8% in the 3rd quarter. De Lisle Partners LLP now owns 1,687,909 shares of the basic materials company’s stock valued at $3,089,000 after acquiring an additional 150,000 shares during the period. Institutional investors and hedge funds 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.