Short Interest in Denison Mines Corp. (NYSEAMERICAN:DNN) Increases By 5.6%

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 47,570,000 shares, an increase of 5.6% from the December 31st total of 45,050,000 shares. Based on an average daily trading volume, of 22,380,000 shares, the days-to-cover ratio is currently 2.1 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Segra Capital Management LLC lifted its position in shares of Denison Mines by 124.8% in the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock worth $33,431,000 after purchasing an additional 10,140,540 shares during the period. Van ECK Associates Corp lifted its holdings 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 worth $26,671,000 after buying an additional 7,168,934 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Denison Mines by 499.0% in the third quarter. The Manufacturers Life Insurance Company now owns 4,127,950 shares of the basic materials company’s stock worth $7,514,000 after buying an additional 3,438,790 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Denison Mines by 41.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,292,900 shares of the basic materials company’s stock valued at $5,989,000 after acquiring an additional 963,100 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Denison Mines by 6,560.7% during the 3rd quarter. XTX Topco Ltd now owns 802,020 shares of the basic materials company’s stock worth $1,468,000 after acquiring an additional 789,979 shares during the period. Institutional investors own 36.74% of the company’s stock.

Denison Mines Stock Performance

Shares of DNN opened at $1.85 on Wednesday. Denison Mines has a 1 year low of $1.40 and a 1 year high of $2.47. The stock has a 50 day moving average price of $1.99. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -185.00 and a beta of 1.75.

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.