Denison Mines Corp (NYSEAMERICAN:DNN) (TSE:DML) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 11,566,982 shares, a decline of 0.5% from the January 15th total of 11,620,349 shares. Based on an average daily trading volume, of 499,973 shares, the days-to-cover ratio is currently 23.1 days.
Separately, Zacks Investment Research raised shares of Denison Mines from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a research report on Friday, December 21st.
NYSEAMERICAN DNN opened at $0.52 on Thursday. Denison Mines has a 52 week low of $0.43 and a 52 week high of $0.69.
Several hedge funds and other institutional investors have recently bought and sold shares of DNN. Renaissance Technologies LLC acquired a new position in shares of Denison Mines during the second quarter worth $176,000. Russell Investments Group Ltd. lifted its position in shares of Denison Mines by 3.3% during the third quarter. Russell Investments Group Ltd. now owns 8,537,279 shares of the basic materials company’s stock worth $5,554,000 after purchasing an additional 272,686 shares in the last quarter. Morgan Stanley lifted its position in shares of Denison Mines by 31.8% during the third quarter. Morgan Stanley now owns 2,168,400 shares of the basic materials company’s stock worth $1,442,000 after purchasing an additional 523,600 shares in the last quarter. Exane Derivatives lifted its position in shares of Denison Mines by 1,140.6% during the fourth quarter. Exane Derivatives now owns 1,392,224 shares of the basic materials company’s stock worth $643,000 after purchasing an additional 1,280,000 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of Denison Mines by 2.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,735,180 shares of the basic materials company’s stock worth $1,269,000 after purchasing an additional 74,000 shares in the last quarter.
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Denison Mines Company Profile
Denison Mines Corp. engages in uranium mining related activities in Canada. The company acquires, explores for, and develops uranium properties; and extracts, processes, and sells uranium. Its assets include a 22.50% interest in the McClean Lake uranium processing facility and uranium deposits; a 25.17% interest in the Midwest uranium project; and a 63.3% interest in the Wheeler River project located in northern Saskatchewan.
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