Ninepoint Partners LP Acquires Shares of 105,499 Uranium Energy Corp. $UEC

Ninepoint Partners LP acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 105,499 shares of the basic materials company’s stock, valued at approximately $1,125,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Uranium Energy during the 4th quarter worth $39,000. PenderFund Capital Management Ltd. purchased a new position in Uranium Energy in the fourth quarter valued at $39,000. EFG International AG acquired a new stake in Uranium Energy in the fourth quarter valued at $47,000. Longview Financial Advisors Inc. acquired a new stake in Uranium Energy in the first quarter valued at $52,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Uranium Energy during the 4th quarter worth about $53,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Stock Performance

Shares of UEC stock opened at $11.15 on Friday. The stock’s 50-day moving average is $10.59 and its two-hundred day moving average is $12.97. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of -92.92 and a beta of 1.22. Uranium Energy Corp. has a 1 year low of $8.90 and a 1 year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last posted its earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, research analysts predict that Uranium Energy Corp. will post -0.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on UEC shares. HC Wainwright reaffirmed a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a research report on Wednesday, June 10th. The Goldman Sachs Group restated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research note on Tuesday, June 9th. One investment 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 stock. According to MarketBeat.com, Uranium Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

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.