Van ECK Associates Corp Buys 5,191,738 Shares of Uranium Energy Corp. $UEC

Van ECK Associates Corp grew its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 21.8% during the second quarter, HoldingsChannel reports. The fund owned 29,034,465 shares of the basic materials company’s stock after acquiring an additional 5,191,738 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Uranium Energy worth $309,507,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in UEC. PenderFund Capital Management Ltd. purchased a new stake in shares of Uranium Energy during the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Uranium Energy in the fourth quarter valued at about $39,000. Longview Financial Advisors Inc. purchased a new position in Uranium Energy in the first quarter valued at about $52,000. EFG International AG bought a new position in Uranium Energy in the second quarter worth about $43,000. Finally, Western Wealth Management LLC bought a new position in Uranium Energy in the first quarter worth about $60,000. 62.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on UEC shares. The Goldman Sachs Group reissued a “buy” rating and set a $16.00 price target on shares of Uranium Energy in a research report on Tuesday, June 9th. HC Wainwright reiterated a “buy” rating on shares of Uranium Energy in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Price Performance

Shares of UEC stock opened at $12.40 on Friday. The stock’s fifty day moving average price is $10.74 and its 200 day moving average price is $12.85. Uranium Energy Corp. has a 1-year low of $8.90 and a 1-year high of $20.34. The company has a market cap of $6.14 billion, a price-to-earnings ratio of -103.33 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, equities research analysts anticipate that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

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.