Denison Mines Corp. (NYSEAMERICAN:DNN) Sees Large Growth in Short Interest

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 51,630,000 shares, a growth 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 short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and issued a $2.75 price target (up from $2.60) on shares of Denison Mines in a research note on Wednesday, October 23rd. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of Denison Mines during the 3rd quarter valued at approximately $154,000. Legacy Capital Group California Inc. boosted its position 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 in the last quarter. Van ECK Associates Corp grew its stake in shares of Denison Mines by 96.8% during 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 last quarter. Arlington Capital Management Inc. increased its holdings in shares of Denison Mines by 3.2% during the third quarter. Arlington Capital Management Inc. now owns 441,192 shares of the basic materials company’s stock worth $807,000 after buying an additional 13,481 shares in the last quarter. Finally, Confluence Investment Management LLC increased its holdings 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 buying an additional 14,247 shares in the last quarter. Institutional investors and hedge funds own 36.74% of the company’s stock.

Denison Mines Stock Performance

Denison Mines stock traded up $0.01 during trading hours on Tuesday, reaching $1.63. 48,234,167 shares of the stock were exchanged, compared to its average volume of 39,975,199. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The company has a market cap of $1.46 billion, a P/E ratio of -163.00 and a beta of 1.75. The stock has a 50 day moving average price of $1.96.

About Denison Mines

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.