Cinctive Capital Management LP Makes New $3.94 Million Investment in Denison Mines Corp. (NYSEAMERICAN:DNN)

Cinctive Capital Management LP purchased a new stake in shares of Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,188,272 shares of the basic materials company’s stock, valued at approximately $3,939,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vantage Point Financial LLC bought a new position in Denison Mines in the 4th quarter valued at $34,000. Commonwealth Equity Services LLC boosted its stake in shares of Denison Mines by 74.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,964 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 8,500 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Denison Mines in the 4th quarter valued at $38,000. Avantax Advisory Services Inc. purchased a new position in Denison Mines in the fourth quarter valued at about $49,000. Finally, Fiduciary Family Office LLC purchased a new position in shares of Denison Mines in the 4th quarter worth approximately $50,000. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Scotiabank restated an “outperform” rating on shares of Denison Mines in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $3.00.

Denison Mines Price Performance

Shares of NYSEAMERICAN DNN opened at $1.30 on Thursday. Denison Mines Corp. has a 52 week low of $1.27 and a 52 week high of $2.47. The business’s 50 day moving average price is $1.62 and its 200 day moving average price is $1.89. The firm has a market cap of $1.16 billion, a P/E ratio of -130.00 and a beta of 1.75.

Denison Mines 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.