Uranium Energy Corp. $UEC Stock: Pinnacle Associates Ltd. Grows Position

Pinnacle Associates Ltd. raised its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,788,882 shares of the basic materials company’s stock after purchasing an additional 172,851 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Uranium Energy were worth $16,905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UEC. Balboa Wealth Partners raised its stake in Uranium Energy by 2.9% during the first quarter. Balboa Wealth Partners now owns 27,820 shares of the basic materials company’s stock worth $376,000 after purchasing an additional 775 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Uranium Energy by 6.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 18,673 shares of the basic materials company’s stock valued at $199,000 after purchasing an additional 1,050 shares during the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of Uranium Energy by 31.3% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 5,589 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 1,333 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Uranium Energy by 6.2% during the 2nd quarter. CoreCap Advisors LLC now owns 25,850 shares of the basic materials company’s stock valued at $276,000 after buying an additional 1,500 shares during the period. Finally, KBC Group NV grew its stake in shares of Uranium Energy by 15.2% during the 1st quarter. KBC Group NV now owns 15,552 shares of the basic materials company’s stock valued at $210,000 after buying an additional 2,054 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Stock Performance

UEC opened at $7.83 on Wednesday. The firm has a 50 day moving average price of $10.43 and a 200 day moving average price of $11.64. The company has a market cap of $3.88 billion, a PE ratio of -27.96 and a beta of 1.38. Uranium Energy Corp. has a 1 year low of $7.27 and a 1 year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) EPS 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 analysts’ expectations of $9.00 million. On average, sell-side analysts predict that Uranium Energy Corp. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy’s U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.