Uranium Energy (NYSEAMERICAN:UEC) Stock Jumps 6.5% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price traded up 6.5% during mid-day trading on Tuesday. The company traded as high as $9.98 and last traded at $9.9550. 4,386,071 shares were traded during trading, a decline of 55% from the average daily volume of 9,745,926 shares. The stock had previously closed at $9.35.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada started coverage on shares of Uranium Energy in a research note on Friday. They issued a “sector perform” rating and a $10.00 target price for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a research report on Thursday, September 3rd. They issued a “hold” rating and a $11.50 price objective for the company. National Bank Financial lowered their price objective on shares of Uranium Energy from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $26.75 target price on shares of Uranium Energy in a report on Wednesday, September 30th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.75.

Uranium Energy Stock Performance

The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -36.73 and a beta of 1.38. The business has a fifty day moving average of $10.82 and a two-hundred day moving average of $11.99.

Uranium Energy (NYSEAMERICAN:UEC) last announced its quarterly earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The business had revenue of $17.05 million during the quarter, compared to analyst estimates of $9.00 million. As a group, sell-side analysts predict that Uranium Energy Corp. will post -0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UEC. Sequoia Financial Advisors LLC lifted its holdings in shares of Uranium Energy by 6.0% during the second quarter. Sequoia Financial Advisors LLC now owns 18,673 shares of the basic materials company’s stock worth $199,000 after buying an additional 1,050 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Uranium Energy by 28.2% in the second quarter. Integrated Wealth Concepts LLC now owns 66,655 shares of the basic materials company’s stock valued at $711,000 after acquiring an additional 14,679 shares in the last quarter. NewEdge Advisors LLC increased its position in Uranium Energy by 49.9% during the second quarter. NewEdge Advisors LLC now owns 30,133 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 10,037 shares during the period. Squarepoint Ops LLC increased its position in Uranium Energy by 117.8% during the second quarter. Squarepoint Ops LLC now owns 28,589 shares of the basic materials company’s stock worth $305,000 after acquiring an additional 15,464 shares during the period. Finally, Arizona State Retirement System raised its stake in Uranium Energy by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 135,266 shares of the basic materials company’s stock worth $1,442,000 after purchasing an additional 2,407 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 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.