Ur-Energy (NYSEAMERICAN:URG) Given New $3.40 Price Target at HC Wainwright

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) had its price objective trimmed by HC Wainwright from $3.60 to $3.40 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock. HC Wainwright also issued estimates for Ur-Energy’s FY2024 earnings at $0.00 EPS and FY2025 earnings at $0.08 EPS.

Other equities analysts have also recently issued reports about the stock. Roth Mkm decreased their target price on shares of Ur-Energy from $2.40 to $2.20 and set a buy rating for the company in a research note on Thursday, March 14th. B. Riley initiated coverage on shares of Ur-Energy in a research note on Friday, February 2nd. They issued a buy rating and a $3.00 target price for the company. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $2.87.

Ur-Energy Trading Up 1.2 %

URG stock opened at $1.63 on Thursday. The firm has a market capitalization of $459.06 million, a PE ratio of -13.58 and a beta of 1.11. Ur-Energy has a 12 month low of $0.84 and a 12 month high of $2.01.

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last released its quarterly earnings data on Wednesday, March 6th. The basic materials company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $5.44 million for the quarter, compared to the consensus estimate of $5.10 million. Ur-Energy had a negative net margin of 173.40% and a negative return on equity of 36.71%. On average, research analysts expect that Ur-Energy will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Ur-Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Azarias Capital Management L.P. lifted its stake in shares of Ur-Energy by 3.1% in the third quarter. Azarias Capital Management L.P. now owns 12,732,813 shares of the basic materials company’s stock worth $19,609,000 after buying an additional 385,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ur-Energy by 26.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,253,973 shares of the basic materials company’s stock worth $21,951,000 after buying an additional 2,956,468 shares in the last quarter. Shell Asset Management Co. acquired a new stake in Ur-Energy during the third quarter worth about $504,000. Van ECK Associates Corp increased its position in Ur-Energy by 28.2% during the third quarter. Van ECK Associates Corp now owns 876,832 shares of the basic materials company’s stock worth $1,350,000 after purchasing an additional 192,947 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Ur-Energy by 707,496.3% during the third quarter. Citigroup Inc. now owns 566,077 shares of the basic materials company’s stock valued at $863,000 after acquiring an additional 565,997 shares during the last quarter. 57.51% of the stock is owned by hedge funds and other institutional investors.

About Ur-Energy

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.