Denison Mines Corp (USA) (NYSEAMEX:DNN) was in 7 hedge funds’ portfolio at the end of December. DNN investors should be aware of a decrease in support from the world’s most elite money managers lately. There were 7 hedge funds in our database with DNN positions at the end of the previous quarter.
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Equally as important, optimistic insider trading activity is another way to break down the investments you’re interested in. There are lots of motivations for a bullish insider to get rid of shares of his or her company, but just one, very obvious reason why they would buy. Plenty of academic studies have demonstrated the useful potential of this strategy if piggybackers understand what to do (learn more here).
Consequently, let’s take a glance at the key action encompassing Denison Mines Corp (USA) (NYSEAMEX:DNN).
Hedge fund activity in Denison Mines Corp (USA) (NYSEAMEX:DNN)
In preparation for this year, a total of 7 of the hedge funds we track were long in this stock, a change of 0% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their stakes substantially.
When looking at the hedgies we track, D. E. Shaw’s D E Shaw had the biggest position in Denison Mines Corp (USA) (NYSEAMEX:DNN), worth close to $0.9 million, accounting for less than 0.1%% of its total 13F portfolio. Coming in second is Michael Hintze of CQS Cayman LP, with a $0.7 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Other hedgies that hold long positions include Andrew Weiss’s Weiss Asset Management, Jim Simons’s Renaissance Technologies and Eric Sprott’s Sprott Asset Management.
What have insiders been doing with Denison Mines Corp (USA) (NYSEAMEX:DNN)?
Insider purchases made by high-level executives is at its handiest when the company in question has seen transactions within the past 180 days. Over the last half-year time frame, Denison Mines Corp (USA) (NYSEAMEX:DNN) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also review hedge fund and insider activity in other stocks similar to Denison Mines Corp (USA) (NYSEAMEX:DNN). These stocks are Thompson Creek Metals Company Inc (USA) (NYSE:TC), Materion Corp (NYSE:MTRN), Platinum Group Metals Limited (USA) (NYSEAMEX:PLG), MFC Industrial Ltd (NYSE:MIL), and Taseko Mines Limited (USA) (NYSEAMEX:TGB). All of these stocks are in the industrial metals & minerals industry and their market caps resemble DNN’s market cap.
Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
Thompson Creek Metals Company Inc (USA) (NYSE:TC) | 10 | 3 | 0 |
Materion Corp (NYSE:MTRN) | 12 | 0 | 1 |
Platinum Group Metals Limited (USA) (NYSEAMEX:PLG) | 2 | 0 | 0 |
MFC Industrial Ltd (NYSE:MIL) | 9 | 0 | 0 |
Taseko Mines Limited (USA) (NYSEAMEX:TGB) | 2 | 0 | 0 |
With the results exhibited by Insider Monkey’s studies, everyday investors must always keep an eye on hedge fund and insider trading sentiment, and Denison Mines Corp (USA) (NYSEAMEX:DNN) is no exception.