Zacks Investment Research cut shares of Uranium Energy (NYSEAMERICAN:UEC) from a hold rating to a strong sell rating in a research report sent to investors on Friday.
According to Zacks, “Uranium Energy Corp is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. “
UEC has been the subject of several other reports. HC Wainwright set a $4.00 price objective on Uranium Energy and gave the company a buy rating in a report on Tuesday, November 28th. Roth Capital assumed coverage on Uranium Energy in a report on Wednesday, October 25th. They set a buy rating and a $3.00 price objective for the company. Finally, Cantor Fitzgerald lowered Uranium Energy from a buy rating to a sell rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Uranium Energy presently has an average rating of Hold and an average price target of $2.83.
Uranium Energy (NYSEAMERICAN:UEC) last released its earnings results on Monday, December 11th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01).
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Uranium Energy by 103.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 460,900 shares of the basic materials company’s stock worth $733,000 after acquiring an additional 234,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Uranium Energy by 221.8% in the second quarter. Bank of New York Mellon Corp now owns 396,904 shares of the basic materials company’s stock worth $632,000 after acquiring an additional 273,560 shares during the period. Teachers Advisors LLC bought a new position in shares of Uranium Energy in the second quarter worth $390,000. TIAA CREF Investment Management LLC bought a new position in shares of Uranium Energy in the second quarter worth $578,000. Finally, Nationwide Fund Advisors bought a new position in shares of Uranium Energy in the second quarter worth $121,000.
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Uranium Energy Company Profile
Uranium Energy Corp. is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates, on projects located in the United States and Paraguay. The Company utilizes in-situ recovery (ISR) mining. The Company has uranium mine located in the state of Texas, the Palangana Mine, which utilizes ISR mining and extracts uranium oxide (U3O8).
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