5 Best Clean Energy Penny Stocks To Buy Now

1. Denison Mines Corp. (NYSE:DNN)

Number of Hedge Fund Holders: 16   

Share Price as of August 4: $1.19 

Denison Mines Corp. (NYSE:DNN) is a uranium exploration and development firm. On May 4, the company posted earnings for the first quarter of 2022, reporting earnings per share of C$0.05 and a revenue of C$413 million. The revenue was up 16,420% compared to the revenue over the same period last year. The firm also announced earlier this year that it had discovered high grade uranium deposits at the Athabasca Basin in Saskatchewan. The deposits were found during the winter 2022 exploration program. 

In late May, TD Securities analyst Craig Hutchison upgraded Denison Mines Corp. (NYSE:DNN) stock to Speculative Buy from Hold with a price target of C$2.5, citing valuation as one of the prime reasons behind the upgrade. 

At the end of the first quarter of 2022, 16 hedge funds in the database of Insider Monkey held stakes worth $40 million in Denison Mines Corp. (NYSE:DNN), compared to 17 in the preceding quarter worth $47 million. Among the hedge funds being tracked by Insider Monkey, New York-based firm Falcon Edge Capital is a leading shareholder in Denison Mines Corp. (NYSE:DNN), with 6.3 million shares worth more than $10 million. 

You can also take a peek at 10 Penny Stocks Redditors are Buying in August and 10 Best Nickel Stocks to Buy Now.

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