Uranium Energy Corp. $UEC Shares Sold by MMCAP International Inc. SPC

MMCAP International Inc. SPC cut its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 40.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,248,363 shares of the basic materials company’s stock after selling 842,835 shares during the quarter. Uranium Energy comprises approximately 1.5% of MMCAP International Inc. SPC’s investment portfolio, making the stock its 14th biggest position. MMCAP International Inc. SPC owned about 0.26% of Uranium Energy worth $14,581,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Uranium Energy in the 3rd quarter worth $33,000. Strategic Advocates LLC acquired a new stake in shares of Uranium Energy in the 3rd quarter worth $40,000. Sound Income Strategies LLC increased its stake in shares of Uranium Energy by 159.1% in the 4th quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 1,900 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Uranium Energy in the 4th quarter worth $53,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of Uranium Energy by 31.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 4,654 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 1,100 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Trading Up 3.8%

Shares of NYSEAMERICAN:UEC opened at $13.51 on Wednesday. The business has a 50-day moving average price of $13.96 and a 200 day moving average price of $14.22. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of -112.58 and a beta of 1.17. Uranium Energy Corp. has a 12-month low of $5.63 and a 12-month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings data on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $20.20 million for the quarter, compared to analyst estimates of $12.85 million. As a group, equities research analysts predict that Uranium Energy Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on UEC. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Uranium Energy in a research note on Wednesday, February 4th. TD Securities cut their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Roth Mkm set a $17.00 target price on Uranium Energy in a research note on Wednesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.66.

Uranium Energy 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.