NewEdge Advisors LLC Cuts Stock Position in Denison Mine Corp $DNN

NewEdge Advisors LLC cut its position in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) by 97.9% in the first quarter, HoldingsChannel.com reports. The firm owned 9,004 shares of the basic materials company’s stock after selling 428,283 shares during the period. NewEdge Advisors LLC’s holdings in Denison Mine were worth $32,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Summitry LLC bought a new stake in shares of Denison Mine in the 4th quarter valued at about $27,000. First Citizens Bank & Trust Co. purchased a new stake in Denison Mine during the fourth quarter valued at approximately $27,000. Invesco Ltd. acquired a new stake in Denison Mine in the fourth quarter valued at approximately $27,000. State of Wyoming acquired a new stake in Denison Mine in the fourth quarter valued at approximately $28,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new position in Denison Mine in the fourth quarter worth $28,000. 36.74% of the stock is owned by hedge funds and other institutional investors.

Denison Mine Stock Up 1.1%

DNN stock opened at $3.67 on Friday. The firm has a 50 day moving average of $3.14 and a 200 day moving average of $3.47. The stock has a market capitalization of $3.32 billion, a PE ratio of -16.68 and a beta of 1.23. 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 52 week low of $2.14 and a 52 week high of $4.43.

Wall Street Analyst Weigh In

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

Denison Mine 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.