Denison Mines Sees Unusually High Options Volume (NYSEAMERICAN:DNN)

Denison Mines Corp. (NYSEAMERICAN:DNN) (TSE:DML) saw unusually large options trading activity on Wednesday. Investors purchased 36,029 call options on the stock. This is an increase of approximately 489% compared to the typical daily volume of 6,122 call options.

Institutional Investors Weigh In On Denison Mines

A number of institutional investors and hedge funds have recently modified their holdings of DNN. Polar Asset Management Partners Inc. acquired a new stake in Denison Mines during the 4th quarter worth about $1,939,000. Mackenzie Financial Corp boosted its holdings in shares of Denison Mines by 3.9% during the 4th quarter. Mackenzie Financial Corp now owns 450,247 shares of the basic materials company’s stock worth $817,000 after buying an additional 17,087 shares during the period. Two Sigma Investments LP grew its position in shares of Denison Mines by 2.9% in the fourth quarter. Two Sigma Investments LP now owns 586,371 shares of the basic materials company’s stock valued at $1,055,000 after purchasing an additional 16,310 shares during the last quarter. Point72 Asset Management L.P. increased its position in Denison Mines by 5.8% in the 4th quarter. Point72 Asset Management L.P. now owns 10,165,800 shares of the basic materials company’s stock worth $18,298,000 after buying an additional 558,200 shares during the period. Finally, Millennium Management LLC increased its position in Denison Mines by 393.3% during the fourth quarter. Millennium Management LLC now owns 5,122,978 shares of the basic materials company’s stock worth $9,221,000 after acquiring an additional 4,084,401 shares during the period. 36.74% of the stock is owned by institutional investors and hedge funds.

Denison Mines Stock Performance

NYSEAMERICAN DNN opened at $1.53 on Friday. Denison Mines has a 1 year low of $1.27 and a 1 year high of $2.47. The business’s fifty day moving average is $1.73 and its two-hundred day moving average is $1.93. The stock has a market capitalization of $1.37 billion, a P/E ratio of -153.00 and a beta of 1.75.

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.