Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Denison Mine Corp $DNN

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 5,398,440 shares of the basic materials company’s stock, valued at approximately $16,541,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Deutsche Bank AG bought a new position in shares of Denison Mine in the second quarter valued at about $5,096,000. Chicago Partners Investment Group LLC bought a new stake in Denison Mine during the 4th quarter worth about $752,000. Goehring & Rozencwajg Associates LLC grew its holdings in Denison Mine by 19.4% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock worth $16,664,000 after acquiring an additional 767,863 shares during the last quarter. Temasek Holdings Private Ltd acquired a new stake in Denison Mine in the 1st quarter valued at about $13,163,000. Finally, Janus Henderson Group PLC increased its position in Denison Mine by 31.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,882,979 shares of the basic materials company’s stock valued at $6,652,000 after acquiring an additional 446,999 shares in the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mine Trading Up 5.1%

Shares of DNN opened at $3.72 on Wednesday. The company has a quick ratio of 9.14, a current ratio of 9.41 and a debt-to-equity ratio of 2.38. Denison Mine Corp has a 12-month low of $2.08 and a 12-month high of $4.43. The firm has a market capitalization of $3.37 billion, a PE ratio of -16.91 and a beta of 1.23. The stock’s fifty day simple moving average is $3.13 and its 200-day simple moving average is $3.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DNN shares. Scotiabank reaffirmed an “outperform” rating on shares of Denison Mine in a research note on Thursday, May 14th. Royal Bank Of Canada started coverage on shares of Denison Mine in a research note on Monday, July 13th. They set an “outperform” rating on the stock. Finally, Zacks Research lowered shares of Denison Mine from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Denison Mine presently has an average rating of “Moderate Buy” and an average price target of $5.38.

About Denison Mine

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.