Uranium Energy (NYSEAMERICAN:UEC) Shares Up 9.4% – Time to Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price was up 9.4% during trading on Thursday . The company traded as high as $7.41 and last traded at $7.32. Approximately 2,475,758 shares were traded during trading, a decline of 68% from the average daily volume of 7,617,867 shares. The stock had previously closed at $6.69.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UEC. HC Wainwright lifted their target price on Uranium Energy from $10.25 to $11.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Roth Mkm reaffirmed a “buy” rating and set a $10.25 price target (up previously from $9.75) on shares of Uranium Energy in a research report on Wednesday, October 23rd.

Uranium Energy Stock Up 0.3 %

The firm has a 50 day moving average price of $6.61. The stock has a market cap of $3.23 billion, a P/E ratio of -63.67 and a beta of 1.84.

Institutional Investors Weigh In On Uranium Energy

A number of large investors have recently added to or reduced their stakes in UEC. Bank of New York Mellon Corp grew its stake in Uranium Energy by 38.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,810,384 shares of the basic materials company’s stock valued at $10,880,000 after buying an additional 501,291 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Uranium Energy by 20.8% during the 2nd quarter. Principal Financial Group Inc. now owns 53,137 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 9,133 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Uranium Energy by 16.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 67,704 shares of the basic materials company’s stock worth $407,000 after purchasing an additional 9,787 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Uranium Energy by 33.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,511,245 shares of the basic materials company’s stock valued at $21,103,000 after purchasing an additional 886,445 shares during the period. Finally, Arizona State Retirement System grew its holdings in Uranium Energy by 10.3% in the 2nd quarter. Arizona State Retirement System now owns 113,141 shares of the basic materials company’s stock valued at $680,000 after buying an additional 10,541 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.