Denison Mines Corp (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 11,566,982 shares, a drop of 0.5% from the January 15th total of 11,620,349 shares. Based on an average daily volume of 499,973 shares, the short-interest ratio is currently 23.1 days.
Separately, Zacks Investment Research raised Denison Mines from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Friday, December 21st.
A number of hedge funds have recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. increased its holdings in Denison Mines by 3.0% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 27,025,480 shares of the basic materials company’s stock valued at $1,248,000 after purchasing an additional 799,450 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Denison Mines during the 4th quarter valued at $7,548,000. Russell Investments Group Ltd. increased its holdings in Denison Mines by 3.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,537,279 shares of the basic materials company’s stock valued at $5,554,000 after purchasing an additional 272,686 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in Denison Mines by 2.8% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,735,180 shares of the basic materials company’s stock valued at $1,269,000 after purchasing an additional 74,000 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Denison Mines during the 4th quarter valued at $1,133,000.
DNN stock opened at $0.51 on Tuesday. Denison Mines has a fifty-two week low of $0.43 and a fifty-two week high of $0.69.
Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings results on Friday, November 9th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The business had revenue of $4.16 million for the quarter, compared to analyst estimates of $3.40 million.
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About Denison Mines
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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