Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 6.2% – Time to Sell?

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) were down 6.2% during mid-day trading on Tuesday. The company traded as low as $8.27 and last traded at $8.2850. Approximately 6,171,459 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 9,758,836 shares. The stock had previously closed at $8.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a research note on Thursday, September 3rd. They issued a “hold” rating and a $11.50 price objective for the company. Royal Bank Of Canada started coverage on Uranium Energy in a research note on Friday, October 2nd. They issued a “sector perform” rating and a $10.00 target price on the stock. National Bank Financial cut their target price on Uranium Energy from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Zacks Research lowered Uranium Energy from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $26.75 price target on shares of Uranium Energy in a research report on Wednesday, September 30th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.75.

Uranium Energy Trading Down 6.3%

The stock has a market capitalization of $4.10 billion, a PE ratio of -29.48 and a beta of 1.38. The firm has a 50-day moving average price of $10.80 and a 200-day moving average price of $11.86.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The company had revenue of $17.05 million for the quarter, compared to the consensus estimate of $9.00 million. Sell-side analysts expect that Uranium Energy Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Uranium Energy

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Uranium Energy in the 2nd quarter valued at approximately $432,676,000. Van ECK Associates Corp lifted its position in shares of Uranium Energy by 21.8% during the second quarter. Van ECK Associates Corp now owns 29,034,465 shares of the basic materials company’s stock worth $309,507,000 after acquiring an additional 5,191,738 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Uranium Energy by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 5,642,038 shares of the basic materials company’s stock worth $76,134,000 after acquiring an additional 170,510 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Uranium Energy by 62.2% in the second quarter. Wellington Management Group LLP now owns 5,310,825 shares of the basic materials company’s stock worth $56,613,000 after acquiring an additional 2,035,586 shares during the period. Finally, Encompass Capital Advisors LLC bought a new position in shares of Uranium Energy in the first quarter worth $40,500,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC’s U.S. assets include ISR projects, processing facilities and associated resource properties.