550,000 Shares in Uranium Energy Corp. $UEC Acquired by Segra Capital Management LLC

Key Points

• Segra Capital Management acquired 550,000 shares of Uranium Energy in the third quarter, valued at approximately $5.2 million. Institutional investors collectively own 62.28% of UEC’s outstanding shares.
• Analyst sentiment is mixed but leans positive: UEC has a consensus “Moderate Buy” rating and an average price target of $16.75, despite targets ranging from $10.00 to $26.75 and one “Strong Sell” rating.
• UEC opened at $8.34, well below its 12-month high of $20.34. The company missed quarterly earnings estimates, reporting a loss of $0.12 per share versus the expected loss of $0.04, though revenue exceeded expectations.

Segra Capital Management LLC bought a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 550,000 shares of the basic materials company's stock, valued at approximately $5,198,000. Uranium Energy makes up 0.5% of Segra Capital Management LLC's investment portfolio, making the stock its 12th largest position.

Several other institutional investors have also recently modified their holdings of UEC. BlackRock Inc. purchased a new stake in Uranium Energy in the second quarter valued at $432,676,000. Van ECK Associates Corp boosted its holdings in Uranium Energy by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 29,034,465 shares of the basic materials company's stock worth $309,507,000 after buying an additional 5,191,738 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Uranium Energy during the first quarter worth approximately $40,500,000. Wellington Management Group LLP raised its position in shares of Uranium Energy by 62.2% in the second quarter. Wellington Management Group LLP now owns 5,310,825 shares of the basic materials company's stock valued at $56,613,000 after buying an additional 2,035,586 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Uranium Energy during the second quarter worth about $19,170,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UEC shares. National Bank Financial decreased their target price on shares of Uranium Energy from $16.00 to $15.00 and set an "outperform" rating on the stock in a research note on Monday, October 5th. Jefferies Financial Group started coverage on Uranium Energy in a report on Thursday, September 3rd. They issued a "hold" rating and a $11.50 price target for the company. Royal Bank Of Canada assumed coverage on Uranium Energy in a report on Friday, October 2nd. They issued a "sector perform" rating and a $10.00 price target for the company. HC Wainwright reissued a "buy" rating and set a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, September 30th. Finally, Zacks Research lowered Uranium Energy from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.75.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $8.34 on Thursday. The stock has a market capitalization of $4.13 billion, a P/E ratio of -29.78 and a beta of 1.38. The firm's 50-day moving average is $10.01 and its two-hundred day moving average is $12.61. Uranium Energy Corp. has a 12 month low of $6.75 and a 12 month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The company had revenue of $17.05 million for the quarter, compared to analysts' expectations of $9.00 million. As a group, analysts anticipate that Uranium Energy Corp. will post -0.20 EPS for the current year.

Uranium Energy Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy's U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.

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