1,331,639 Shares of Uranium Energy Corp. $UEC Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1,331,639 shares of Uranium Energy Corp. in the second quarter, worth approximately $14.2 million and representing about 0.27% of the company.
• Institutional ownership remains substantial at 62.28%, with BlackRock, VanECK Associates, Alps Advisors, Geode Capital Management, and Norges Bank among major holders.
• UEC shares opened at $9.41, near their 12-month low, while analysts maintain a “Moderate Buy” consensus with an average price target of $17.04.

Bank of America Corp DE bought a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,331,639 shares of the basic materials company's stock, valued at approximately $14,195,000. Bank of America Corp DE owned about 0.27% of Uranium Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Uranium Energy during the 2nd quarter worth approximately $432,676,000. Van ECK Associates Corp grew its stake in Uranium Energy by 25.3% during the 4th quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company's stock worth $229,695,000 after purchasing an additional 3,969,046 shares in the last quarter. Alps Advisors Inc. increased its holdings in Uranium Energy by 16.3% during the 4th quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company's stock worth $203,959,000 after purchasing an additional 2,453,744 shares during the period. Geode Capital Management LLC raised its position in Uranium Energy by 13.4% in the 4th quarter. Geode Capital Management LLC now owns 11,449,334 shares of the basic materials company's stock valued at $133,751,000 after purchasing an additional 1,355,701 shares in the last quarter. Finally, Norges Bank acquired a new stake in Uranium Energy in the 4th quarter valued at about $118,019,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Trading Down 0.6%

Shares of NYSEAMERICAN UEC opened at $9.41 on Friday. Uranium Energy Corp. has a twelve month low of $8.90 and a twelve month high of $20.34. The stock has a 50 day moving average of $10.86 and a two-hundred day moving average of $12.19. The stock has a market cap of $4.66 billion, a P/E ratio of -78.42 and a beta of 1.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on UEC shares. The Goldman Sachs Group reissued a "buy" rating and set a $16.00 price objective on shares of Uranium Energy in a research report on Tuesday, June 9th. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a report on Thursday, September 3rd. They issued a "hold" rating and a $11.50 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating on shares of Uranium Energy in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Uranium Energy has an average rating of "Moderate Buy" and an average target price of $17.04.

About Uranium Energy

Uranium Energy Corp. (NYSE American: UEC) is a uranium mining and nuclear fuel company focused on the exploration, development and production of uranium in the United States and Canada. Its activities support the supply of uranium used to generate nuclear power.

The company's U.S. portfolio includes in-situ recovery uranium projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson Processing Facility and nearby well-field projects, while its Wyoming assets include the Irigaray Central Processing Plant and the Christensen Ranch project.

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