Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Up – Still a Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares gapped up prior to trading on Tuesday . The stock had previously closed at $16.32, but opened at $17.60. Uranium Energy shares last traded at $17.2220, with a volume of 976,810 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UEC. Stifel Nicolaus assumed coverage on Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 price target on the stock. Zacks Research upgraded shares of Uranium Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. National Bankshares boosted their price target on shares of Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Uranium Energy has an average rating of “Buy” and an average price target of $14.92.

Uranium Energy Trading Up 6.5%

The firm’s 50 day simple moving average is $14.46 and its 200-day simple moving average is $12.81. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -145.03 and a beta of 1.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UEC. Vanguard Group Inc. increased its stake in Uranium Energy by 32.2% in the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock valued at $551,854,000 after acquiring an additional 11,521,597 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Uranium Energy by 9.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock valued at $354,847,000 after purchasing an additional 2,393,683 shares during the period. State Street Corp increased its stake in shares of Uranium Energy by 9.5% in the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock valued at $156,717,000 after buying an additional 2,000,516 shares during the period. Norges Bank bought a new position in Uranium Energy during the 2nd quarter worth approximately $105,058,000. Finally, Geode Capital Management LLC lifted its holdings in Uranium Energy by 3.0% in 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 buying an additional 289,662 shares during the period. 62.28% of the stock is owned by institutional investors.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.