TD Waterhouse Canada Inc. Makes New Investment in Denison Mine Corp $DNN

TD Waterhouse Canada Inc. acquired a new position in Denison Mine Corp (NYSEAMERICAN:DNN) (TSE:DML) in the third quarter, HoldingsChannel reports. The institutional investor acquired 544,210 shares of the basic materials company’s stock, valued at approximately $1,382,000.

Several other institutional investors have also recently added to or reduced their stakes in DNN. Van ECK Associates Corp raised its holdings in shares of Denison Mine by 22.4% during the second quarter. Van ECK Associates Corp now owns 87,521,620 shares of the basic materials company’s stock worth $267,557,000 after purchasing an additional 16,013,484 shares during the period. Renaissance Technologies LLC lifted its position in shares of Denison Mine by 275.0% in the 1st quarter. Renaissance Technologies LLC now owns 9,455,713 shares of the basic materials company’s stock worth $33,379,000 after buying an additional 6,934,400 shares during the last quarter. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Denison Mine by 19.4% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 4,720,615 shares of the basic materials company’s stock valued at $16,664,000 after buying an additional 767,863 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Denison Mine in the 2nd quarter valued at about $16,541,000. Finally, Bank of America Corp DE acquired a new position in shares of Denison Mine in the 2nd quarter valued at about $13,237,000. Institutional investors own 36.74% of the company’s stock.

Denison Mine Price Performance

Shares of NYSEAMERICAN DNN opened at $2.33 on Thursday. The company has a current ratio of 9.41, a quick ratio of 9.14 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $2.92 and a 200-day simple moving average of $3.18. Denison Mine Corp has a 12-month low of $2.10 and a 12-month high of $4.43.

Wall Street Analyst Weigh In

DNN has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on shares of Denison Mine in a research report on Thursday, September 3rd. They set a “buy” rating for the company. Royal Bank Of Canada started coverage on shares of Denison Mine in a research note on Monday, July 13th. They set an “outperform” rating on the stock. Finally, Zacks Research cut shares of Denison Mine from a “hold” rating to a “strong sell” rating in a report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

About Denison Mine

Denison Mines Corp. is a uranium exploration, development and production-stage company focused primarily on projects in Canada’s Athabasca Basin in northern Saskatchewan. The region is known for its high-grade uranium deposits. Denison’s activities include mineral exploration, project evaluation, mine development and interests in uranium production assets.

The company’s principal development asset is the Wheeler River project, which includes the Phoenix and Gryphon uranium deposits. Denison has advanced Phoenix as an in-situ recovery project and continues to evaluate development plans for its uranium resources.