BMO Capital Markets Reaffirms Market Perform Rating for Uranium Energy (NYSEAMERICAN:UEC)

Key Points

• BMO Capital Markets reaffirmed a "market perform" rating for Uranium Energy (NYSEAMERICAN:UEC) and increased their price target from $7.75 to $14.00, suggesting a potential upside of 2.34%.
• Other analysts have rated Uranium Energy positively, with a majority giving a buy rating and target prices ranging from $12.75 to $17.50, indicating strong market interest.
• Uranium Energy's stock recently decreased by 1.2%, with current trading at $13.68, and insider trading noted a 21.80% decrease in a director's shareholding.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report)'s stock had its "market perform" rating reaffirmed by research analysts at BMO Capital Markets in a research report issued on Thursday,Benzinga reports. They presently have a $14.00 price target on the basic materials company's stock, up from their previous price target of $7.75. BMO Capital Markets' price objective suggests a potential upside of 2.34% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group set a $17.50 price objective on shares of Uranium Energy and gave the stock a "buy" rating in a report on Wednesday. HC Wainwright raised their price objective on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a report on Wednesday, August 6th. TD Securities raised their price objective 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. Roth Capital reiterated a "buy" rating on shares of Uranium Energy in a research note on Wednesday. Finally, The Goldman Sachs Group upgraded shares of Uranium Energy to a "strong-buy" rating in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $12.25.

Uranium Energy Stock Down 1.2%

Shares of NYSEAMERICAN:UEC opened at $13.68 on Thursday. Uranium Energy has a 12 month low of $3.85 and a 12 month high of $15.06. The company's fifty day simple moving average is $10.48 and its 200 day simple moving average is $7.32. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of -80.47 and a beta of 1.42.

Insider Activity at Uranium Energy

In other news, Director David Kong sold 50,800 shares of Uranium Energy stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the transaction, the director owned 182,237 shares of the company's stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of Uranium Energy in the 1st quarter valued at about $27,000. IFP Advisors Inc grew its position in shares of Uranium Energy by 732.8% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock valued at $27,000 after acquiring an additional 3,503 shares during the period. Operose Advisors LLC bought a new position in shares of Uranium Energy in the 2nd quarter valued at about $34,000. Farther Finance Advisors LLC grew its position in shares of Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 2,364 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Uranium Energy in the 1st quarter valued at about $36,000. 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.

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