Uranium Energy (NYSEAMERICAN:UEC) Trading 8.3% Higher – Here’s Why

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) were up 8.3% during trading on Wednesday . The company traded as high as $15.04 and last traded at $15.3090. Approximately 2,728,014 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 10,192,667 shares. The stock had previously closed at $14.13.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Roth Mkm set a $17.00 price target on shares of Uranium Energy in a research note on Wednesday, March 11th. National Bank Financial increased their price target on shares of Uranium Energy from $15.50 to $16.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. TD Securities cut their price target on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. The Goldman Sachs Group reiterated a “buy” rating and issued a $18.00 price target on shares of Uranium Energy in a research note on Wednesday, February 4th. Finally, HC Wainwright increased their price target on shares of Uranium Energy from $26.50 to $26.75 and gave the company a “buy” rating in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.66.

Uranium Energy Trading Up 2.3%

The business’s 50 day moving average price is $14.38 and its 200-day moving average price is $14.19. The company has a market cap of $7.43 billion, a price-to-earnings ratio of -126.33 and a beta of 1.18.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $20.20 million for the quarter, compared to analyst estimates of $12.85 million. Equities research analysts forecast that Uranium Energy Corp. will post 0.01 EPS for the current fiscal year.

Institutional Trading of Uranium Energy

A number of hedge funds have recently modified their holdings of the stock. Independent Wealth Network Inc. lifted its stake in shares of Uranium Energy by 2.0% during the 4th quarter. Independent Wealth Network Inc. now owns 30,514 shares of the basic materials company’s stock worth $356,000 after buying an additional 597 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in Uranium Energy by 2.3% in the 4th quarter. Clear Creek Financial Management LLC now owns 28,949 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 655 shares in the last quarter. CoreCap Advisors LLC raised its stake in Uranium Energy by 3.1% in the 3rd quarter. CoreCap Advisors LLC now owns 25,200 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 750 shares in the last quarter. Balboa Wealth Partners raised its stake in Uranium Energy by 2.9% in the 1st quarter. Balboa Wealth Partners now owns 27,820 shares of the basic materials company’s stock worth $376,000 after purchasing an additional 775 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Uranium Energy by 5.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,778 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 778 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.