GeoSphere Capital Management LLC Sells 300,000 Shares of Denison Mine Corp $DNN

GeoSphere Capital Management LLC lessened its holdings in shares of Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 17.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,400,000 shares of the basic materials company’s stock after selling 300,000 shares during the quarter. Denison Mine makes up approximately 1.2% of GeoSphere Capital Management LLC’s portfolio, making the stock its 13th largest holding. GeoSphere Capital Management LLC’s holdings in Denison Mine were worth $3,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Denison Mine by 14.6% in the first quarter. Royal Bank of Canada now owns 4,317,738 shares of the basic materials company’s stock valued at $5,613,000 after purchasing an additional 550,064 shares during the period. Millennium Management LLC raised its position in shares of Denison Mine by 11.5% in the first quarter. Millennium Management LLC now owns 5,710,330 shares of the basic materials company’s stock valued at $7,423,000 after purchasing an additional 587,352 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Denison Mine by 2.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,687,875 shares of the basic materials company’s stock valued at $2,194,000 after purchasing an additional 45,125 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Denison Mine by 62.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,504,193 shares of the basic materials company’s stock valued at $1,955,000 after purchasing an additional 578,365 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Denison Mine by 29.4% in the second quarter. Envestnet Asset Management Inc. now owns 55,962 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 12,705 shares during the period. Institutional investors own 36.74% of the company’s stock.

Analyst Ratings Changes

DNN has been the topic of a number of recent analyst reports. TD Securities lifted their price target on shares of Denison Mine from $6.00 to $6.50 and gave the company a “buy” rating in a research report on Thursday, March 12th. Roth Mkm reissued a “buy” rating and issued a $4.25 price target on shares of Denison Mine in a research report on Wednesday, February 18th. Scotiabank reissued an “outperform” rating on shares of Denison Mine in a research report on Thursday, May 14th. Finally, Zacks Research lowered shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Denison Mine Stock Performance

Shares of Denison Mine stock opened at $3.23 on Monday. The company’s fifty day simple moving average is $3.62 and its 200-day simple moving average is $3.38. The company has a market cap of $2.92 billion, a price-to-earnings ratio of -14.04 and a beta of 1.23. The company has a current ratio of 13.77, a quick ratio of 10.51 and a debt-to-equity ratio of 2.81. Denison Mine Corp has a 1 year low of $1.51 and a 1 year high of $4.43.

Denison Mine Company Profile

Denison Mines Corp. (NYSEAMERICAN:DNN) is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of Saskatchewan. The company’s core business is the discovery, evaluation and advancement of high-grade uranium projects that can supply fuel for the global nuclear power industry.

Denison’s flagship asset is the 66.9%-owned Wheeler River Project, one of the largest undeveloped high-grade uranium deposits in the Athabasca Basin. In addition to Wheeler River, Denison holds interests in several other exploration properties across northern Saskatchewan and maintains a strategic partnership in the McClean Lake uranium mill, providing it with downstream processing capabilities for future production.

Founded in 1974, Denison Mines has accumulated decades of geological expertise in one of the world’s most prolific uranium districts.