Uranium Energy (NYSEAMERICAN:UEC) Trading Up 7.8% – Still a Buy?

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) rose 7.8% on Thursday . The company traded as high as $10.20 and last traded at $10.1560. Approximately 4,989,244 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 10,192,506 shares. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

UEC has been the subject of a number of research reports. TD Securities dropped their target price on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Roth Mkm set a $17.00 price target on shares of Uranium Energy in a research note on Wednesday, March 11th. HC Wainwright restated a “buy” rating and set a $26.75 price target on shares of Uranium Energy in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.41.

Uranium Energy Price Performance

The stock has a 50 day simple moving average of $13.84 and a two-hundred day simple moving average of $14.28. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -91.92 and a beta of 1.12.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $20.20 million for the quarter, compared to analysts’ expectations of $12.85 million. As a group, research analysts forecast that Uranium Energy Corp. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Uranium Energy

A number of institutional investors have recently bought and sold shares of UEC. Vanguard Group Inc. lifted its holdings in Uranium Energy by 34.5% in the third quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock valued at $476,588,000 after acquiring an additional 9,159,024 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Uranium Energy by 38.2% in the third quarter. Pinnacle Associates Ltd. now owns 1,463,561 shares of the basic materials company’s stock worth $19,524,000 after acquiring an additional 404,799 shares during the period. ARP Global Capital Ltd acquired a new stake in Uranium Energy during the fourth quarter worth $1,150,000. Nordea Investment Management AB purchased a new stake in Uranium Energy in the fourth quarter valued at $4,076,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Uranium Energy in the fourth quarter valued at $22,260,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

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.