Alps Advisors Inc. Acquires 49,616,733 Shares of Denison Mine Corp $DNN

Alps Advisors Inc. purchased a new stake in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 49,616,733 shares of the basic materials company’s stock, valued at approximately $128,507,000. Denison Mine accounts for 0.6% of Alps Advisors Inc.’s holdings, making the stock its 21st biggest holding. Alps Advisors Inc. owned 0.05% of Denison Mine at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kelleher Financial Advisors acquired a new position in shares of Denison Mine in the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Denison Mine during the second quarter worth $28,000. Shore Point Advisors LLC acquired a new position in Denison Mine in the 3rd quarter worth about $26,000. SLT Holdings LLC bought a new stake in shares of Denison Mine in the third quarter valued at $26,000. Finally, Farther Finance Advisors LLC purchased a new stake in Denison Mine in the third quarter worth about $28,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DNN has been the subject of several analyst reports. Royal Bank Of Canada assumed coverage on shares of Denison Mine in a research note on Monday, July 13th. They issued an “outperform” rating for the company. Jefferies Financial Group assumed coverage on shares of Denison Mine in a report on Thursday, September 3rd. They issued a “buy” rating for the company. Finally, Zacks Research cut Denison Mine from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.38.

Denison Mine Stock Up 6.3%

DNN opened at $2.19 on Friday. The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. Denison Mine Corp has a 1-year low of $1.93 and a 1-year high of $4.43. The firm’s 50 day simple moving average is $2.63 and its two-hundred day simple moving average is $3.29.

Denison Mine (NYSEAMERICAN:DNN) (TSE:DML) last posted its earnings results on Wednesday, November 4th. The basic materials company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). Denison Mine had a negative net margin of 6,750.40% and a negative return on equity of 24.82%. The firm had revenue of $2.32 million during the quarter, compared to analyst estimates of $2.32 million. As a group, equities research analysts expect that Denison Mine Corp will post -0.06 EPS for the current year.

Denison Mine Profile

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada’s Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison’s activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.