Uranium Royalty (NASDAQ:UROY) Shares Up 10% – Here’s Why

Uranium Royalty Corp. (NASDAQ:UROY)’s share price was up 10% during trading on Tuesday . The company traded as high as $4.85 and last traded at $4.8850. Approximately 2,133,584 shares were traded during trading, a decline of 23% from the average daily volume of 2,776,382 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on UROY shares. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Uranium Royalty in a research note on Thursday, July 16th. Zacks Research upgraded Uranium Royalty from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Uranium Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Finally, National Bank Financial started coverage on shares of Uranium Royalty in a report on Wednesday, July 29th. They issued an “outperform” rating and a $3.75 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $4.12.

Uranium Royalty Stock Down 0.4%

The company has a 50 day simple moving average of $3.60 and a two-hundred day simple moving average of $3.58. The company has a market capitalization of $1.83 billion, a P/E ratio of 240.12 and a beta of 1.42.

Hedge Funds Weigh In On Uranium Royalty

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC purchased a new stake in Uranium Royalty during the 2nd quarter valued at $29,000. O Shaughnessy Asset Management LLC purchased a new position in Uranium Royalty during the fourth quarter worth $44,000. Thompson Davis & CO. Inc. purchased a new position in Uranium Royalty during the second quarter worth $33,000. Financial Security Advisor Inc. bought a new position in Uranium Royalty during the fourth quarter valued at $46,000. Finally, AXQ Capital LP bought a new position in Uranium Royalty during the second quarter valued at $37,000. Hedge funds and other institutional investors own 24.19% of the company’s stock.

About Uranium Royalty

Uranium Royalty Corp. is a Vancouver-based mineral rights acquisition, royalty and streaming company focused exclusively on the uranium sector. Established in early 2021 and listed on the NASDAQ under the symbol UROY, the company seeks to provide investors with leveraged exposure to uranium prices without direct mining risk. Rather than owning or operating mines, Uranium Royalty acquires long-term royalties and streams on both production and development-stage uranium projects worldwide.

The company’s diversified portfolio encompasses royalty interests across multiple jurisdictions, including Canada, the United States, South America, Central Asia and Australia.