Uranium Energy (NYSEAMERICAN:UEC) Trading Up 8.6% – Here’s Why

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) traded up 8.6% during mid-day trading on Thursday . The stock traded as high as $13.80 and last traded at $14.0310. 3,951,790 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 12,127,254 shares. The stock had previously closed at $12.92.

Wall Street Analysts Forecast Growth

UEC has been the subject of a number of research reports. TD Securities upped their target price on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a research note on Friday, October 3rd. Stifel Nicolaus began coverage on shares of Uranium Energy in a report on Monday, October 6th. They issued a “buy” rating and a $10.50 price objective on the stock. BMO Capital Markets reissued a “market perform” rating and set a $14.00 price objective (up previously from $7.75) on shares of Uranium Energy in a report on Thursday, September 25th. Finally, HC Wainwright lifted their price target on Uranium Energy from $12.75 to $19.75 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Uranium Energy has an average rating of “Buy” and an average price target of $14.19.

Uranium Energy Stock Up 9.5%

The stock has a market capitalization of $6.84 billion, a PE ratio of -83.23 and a beta of 1.35. The business’s fifty day moving average is $13.33 and its 200-day moving average is $10.52.

Hedge Funds Weigh In On Uranium Energy

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Uranium Energy by 34.5% during 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 purchasing an additional 9,159,024 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Uranium Energy by 9.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock worth $354,847,000 after acquiring an additional 2,393,683 shares in the last quarter. State Street Corp lifted its position in Uranium Energy by 9.5% in the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock worth $156,717,000 after buying an additional 2,000,516 shares in the last quarter. Norges Bank purchased a new position in Uranium Energy in the second quarter valued at about $105,058,000. Finally, Geode Capital Management LLC raised its position in Uranium Energy by 3.0% during the second quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company’s stock valued at $67,344,000 after acquiring an additional 289,662 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.