Beutel Goodman & Co Ltd. Decreases Stock Holdings in Denison Mines Corp. (NYSEAMERICAN:DNN)

Beutel Goodman & Co Ltd. lessened its position in Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,757,270 shares of the basic materials company’s stock after selling 544,470 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Denison Mines were worth $12,262,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Segra Capital Management LLC increased its position in Denison Mines by 124.8% during the 3rd quarter. Segra Capital Management LLC now owns 18,268,562 shares of the basic materials company’s stock valued at $33,431,000 after purchasing an additional 10,140,540 shares during the period. Van ECK Associates Corp boosted its stake in shares of Denison Mines by 43.3% during the 4th quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock valued at $37,595,000 after purchasing an additional 6,305,332 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Denison Mines by 116.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,131,404 shares of the basic materials company’s stock valued at $12,932,000 after buying an additional 3,838,504 shares during the period. The Manufacturers Life Insurance Company raised its stake 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 in the last quarter. Finally, Ninepoint Partners LP purchased a new stake in Denison Mines in the fourth quarter worth about $1,620,000. Hedge funds and other institutional investors own 36.74% of the company’s stock.

Denison Mines Stock Performance

NYSEAMERICAN:DNN opened at $1.33 on Friday. Denison Mines Corp. has a fifty-two week low of $1.27 and a fifty-two week high of $2.47. The firm has a market cap of $1.19 billion, a P/E ratio of -133.00 and a beta of 1.75. The firm has a 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $1.91.

Analysts Set New Price Targets

Separately, Scotiabank reaffirmed an “outperform” rating on shares of Denison Mines in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $3.00.

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.