Denison Mines (NYSEAMERICAN:DNN) Shares Down 5% – Here’s What Happened

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) was down 5% on Tuesday . The stock traded as low as $1.43 and last traded at $1.44. Approximately 33,194,485 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 49,155,410 shares. The stock had previously closed at $1.51.

Denison Mines Price Performance

The stock has a market capitalization of $1.25 billion, a P/E ratio of -139.00 and a beta of 1.75. The company’s 50-day simple moving average is $1.70 and its 200-day simple moving average is $1.92.

Hedge Funds Weigh In On Denison Mines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNN. Van ECK Associates Corp boosted its holdings in shares of Denison Mines by 43.3% during the fourth quarter. Van ECK Associates Corp now owns 20,879,491 shares of the basic materials company’s stock worth $37,595,000 after acquiring an additional 6,305,332 shares during the period. BNP Paribas Financial Markets acquired a new stake in Denison Mines during the 3rd quarter worth approximately $505,000. Prescott Group Capital Management L.L.C. bought a new stake in Denison Mines in the 4th quarter valued at $1,371,000. National Bank of Canada FI grew its holdings in Denison Mines by 89.1% in the 3rd quarter. National Bank of Canada FI now owns 935,567 shares of the basic materials company’s stock valued at $1,708,000 after buying an additional 440,921 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Denison Mines by 92.6% in the 4th quarter. Vontobel Holding Ltd. now owns 196,336 shares of the basic materials company’s stock valued at $356,000 after buying an additional 94,419 shares in the last quarter. 36.74% of the stock is owned by institutional investors.

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.