Short Interest in Denison Mines Corp (DNN) Grows By 6.9%

Denison Mines Corp (NYSEAMERICAN:DNN) (TSE:DML) was the recipient 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 volume of 881,502 shares, the days-to-cover ratio is currently 14.4 days.

Several institutional investors have recently added to or reduced their stakes in DNN. Morgan Stanley boosted its holdings in shares of Denison Mines by 31.8% in the third quarter. Morgan Stanley now owns 2,168,400 shares of the basic materials company’s stock valued at $1,442,000 after buying an additional 523,600 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Denison Mines in the second quarter valued at approximately $176,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Denison Mines by 3.3% in 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 buying an additional 272,686 shares during the period.

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

Denison Mines stock opened at $0.51 on Friday. Denison Mines has a twelve month low of $0.43 and a twelve month high of $0.69.

Denison Mines (NYSEAMERICAN:DNN) (TSE:DML) last released its quarterly earnings results on Friday, November 9th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.01). The company had revenue of $4.16 million during the quarter, compared to analyst estimates of $3.40 million.

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Denison Mines Company Profile

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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