10 Best Penny Stocks to Buy According to Hedge Funds

5. Denison Mines Corp. (NYSE:DNN)

​Stock Price: $2.89

Number of Hedge Fund Holders: 27

Denison Mines Corp. (NYSE:DNN) is one of the best penny stocks to buy according to hedge funds. On October 2, Desjardins analyst Bryce Adams reiterated a bullish stance on Denison Mines Corp. (NYSE:DNN), giving the stock a Buy rating with a C$5.00 price target.

In its fiscal Q2 2025 results, Denison Mines Corp. (NYSE:DNN) announced the first production at McClean Lake North using SABRE MininG.

In addition, Denison Mines Corp. (NYSE:DNN) obtained provincial approval of environmental assessment for Wheeler River, while also attaining around 80% completion of total engineering for Phoenix.

Denison Mines Corp. (NYSE:DNN) is involved in the exploration and development of uranium. The company holds interests in the Athabasca Basin, Wheeler River, Midwest Project, McClean Lake, and Waterbury Lake.