Denison Mines Corp. (NYSEAMERICAN:DNN) Short Interest Update

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 51,630,000 shares, an increase of 5.0% from the January 15th total of 49,160,000 shares. Based on an average daily volume of 28,760,000 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reaffirmed a “buy” rating and set a $2.75 price target (up previously from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Denison Mines currently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Up 0.6 %

Shares of NYSEAMERICAN:DNN opened at $1.63 on Wednesday. The company’s 50 day simple moving average is $1.96. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -163.00 and a beta of 1.75. Denison Mines has a 1 year low of $1.40 and a 1 year high of $2.47.

Institutional Investors Weigh In On Denison Mines

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Denison Mines during the 3rd quarter valued at $154,000. Legacy Capital Group California Inc. raised its stake in Denison Mines by 47.5% in the third quarter. Legacy Capital Group California Inc. now owns 34,372 shares of the basic materials company’s stock valued at $63,000 after buying an additional 11,066 shares during the last quarter. Van ECK Associates Corp raised its stake in Denison Mines by 96.8% in the third quarter. Van ECK Associates Corp now owns 14,574,159 shares of the basic materials company’s stock valued at $26,671,000 after buying an additional 7,168,934 shares during the last quarter. Arlington Capital Management Inc. boosted its holdings in Denison Mines by 3.2% in the third quarter. Arlington Capital Management Inc. now owns 441,192 shares of the basic materials company’s stock worth $807,000 after acquiring an additional 13,481 shares in the last quarter. Finally, Confluence Investment Management LLC grew its stake in shares of Denison Mines by 5.9% during the third quarter. Confluence Investment Management LLC now owns 257,386 shares of the basic materials company’s stock worth $471,000 after acquiring an additional 14,247 shares during the last quarter. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

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.