IsoEnergy (NYSEAMERICAN:ISOU) Shares Up 7.3% – Here’s Why

Shares of IsoEnergy Ltd. (NYSEAMERICAN:ISOU) shot up 7.3% on Tuesday. The company traded as high as $8.99 and last traded at $8.9620. Approximately 3,090 shares changed hands during trading, a decline of 98% from the average daily volume of 132,806 shares. The stock had previously closed at $8.35.

Analyst Ratings Changes

Separately, Royal Bank Of Canada began coverage on shares of IsoEnergy in a report on Thursday, October 1st. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

IsoEnergy Stock Performance

The stock has a market cap of $589.87 million, a PE ratio of -53.00 and a beta of 1.87. The firm has a fifty day moving average price of $10.02 and a 200 day moving average price of $10.56.

Institutional Investors Weigh In On IsoEnergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ISOU. Acasta Partners UK LLP acquired a new stake in IsoEnergy in the third quarter worth about $1,341,000. The Manufacturers Life Insurance Company increased its holdings in shares of IsoEnergy by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 932,342 shares of the company’s stock valued at $9,046,000 after acquiring an additional 7,665 shares in the last quarter. Rockbridge Asset Management LLC acquired a new position in shares of IsoEnergy during the second quarter valued at about $100,000. Firetrail Investments PTY Ltd. acquired a new position in shares of IsoEnergy during the second quarter valued at about $2,903,000. Finally, Ausbil Investment Management Ltd purchased a new position in shares of IsoEnergy in the 2nd quarter valued at approximately $375,000.

IsoEnergy Company Profile

IsoEnergy Ltd. is a uranium exploration and development company focused primarily on identifying and advancing uranium resources in Canada’s Athabasca Basin, one of the world’s leading uranium-producing regions. The company’s activities include mineral exploration, geological evaluation, resource definition and the development of potential uranium mining projects.

IsoEnergy’s flagship asset is the Hurricane uranium deposit at its Larocque East property in northern Saskatchewan. The company has described Hurricane as a high-grade uranium discovery and continues to evaluate its development potential through exploration, technical studies and related project work.