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

Denison Mines Corp (NYSEAMERICAN:DNN) (TSE:DML) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 12,680,856 shares, an increase of 6.9% from the December 14th total of 11,866,820 shares. Based on an average daily trading volume, of 881,502 shares, the short-interest ratio is currently 14.4 days.

Separately, Zacks Investment Research raised shares of Denison Mines from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research report on Friday, December 21st.

Several hedge funds and other institutional investors have recently bought and sold shares of DNN. Renaissance Technologies LLC bought a new stake in shares of Denison Mines during the second quarter valued at approximately $176,000. Morgan Stanley grew its stake in shares of Denison Mines by 31.8% during the third quarter. Morgan Stanley now owns 2,168,400 shares of the basic materials company’s stock valued at $1,442,000 after purchasing an additional 523,600 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Denison Mines by 3.3% during the third 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 during the last quarter.

NYSEAMERICAN DNN opened at $0.50 on Friday. Denison Mines has a 1-year low of $0.43 and a 1-year high of $0.69.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last posted its quarterly earnings data on Friday, November 9th. The basic materials company reported ($0.01) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). The firm 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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