Short Interest in Denison Mines Corp. (NYSEAMERICAN:DNN) Expands By 6.2%

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 43,900,000 shares, an increase of 6.2% from the October 31st total of 41,320,000 shares. Based on an average daily volume of 20,180,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Investors Weigh In On Denison Mines

A number of large investors have recently modified their holdings of DNN. Toronto Dominion Bank boosted its holdings in Denison Mines by 55.5% in the third quarter. Toronto Dominion Bank now owns 37,266 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 13,297 shares during the period. Geode Capital Management LLC raised its position in shares of Denison Mines by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 420,723 shares of the basic materials company’s stock worth $769,000 after buying an additional 34,192 shares in the last quarter. Segra Capital Management LLC lifted its position in Denison Mines by 124.8% in the third 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. Impala Asset Management LLC bought a new stake in Denison Mines during the third quarter worth approximately $1,076,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Denison Mines by 78.5% in the third quarter. Continuum Advisory LLC now owns 33,407 shares of the basic materials company’s stock worth $61,000 after buying an additional 14,688 shares during the period. Institutional investors and hedge funds own 36.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DNN. Cibc World Mkts upgraded Denison Mines to a “strong-buy” rating in a report on Thursday, September 26th. BMO Capital Markets upgraded shares of Denison Mines from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 25th. Roth Mkm reaffirmed a “buy” rating and set a $2.75 price target (up previously from $2.60) on shares of Denison Mines in a report on Wednesday, October 23rd. National Bank Financial raised shares of Denison Mines to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, CIBC began coverage on Denison Mines in a research note on Thursday, September 26th. They set a “sector outperform” rating and a $3.25 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Denison Mines presently has a consensus rating of “Buy” and a consensus price target of $3.00.

Denison Mines Stock Down 2.2 %

Shares of NYSEAMERICAN DNN traded down $0.05 during midday trading on Tuesday, hitting $2.24. The company had a trading volume of 12,465,913 shares, compared to its average volume of 17,005,498. Denison Mines has a twelve month low of $1.40 and a twelve month high of $2.47. The firm has a 50-day simple moving average of $2.01.

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.