Balboa Wealth Partners Takes $135,000 Position in Uranium Energy Corp. $UEC

Key Points

• Balboa Wealth Partners has taken a new position in Uranium Energy Corp., purchasing 19,850 shares valued at approximately $135,000 in the second quarter.
• Institutional investors now hold 62.28% of Uranium Energy's stock, with significant increases in holdings from various firms, including a 565.1% increase from Stonehage Fleming Financial Services.
• Analysts have raised their price targets for Uranium Energy, with BMO Capital Markets setting a target of $14.00, and Canaccord Genuity offering a target of $17.50, signaling strong market interest.

Balboa Wealth Partners purchased a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,850 shares of the basic materials company's stock, valued at approximately $135,000.

Other large investors also recently modified their holdings of the company. MGO One Seven LLC bought a new stake in Uranium Energy during the 2nd quarter worth approximately $93,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Uranium Energy by 36.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,862 shares of the basic materials company's stock valued at $94,000 after purchasing an additional 3,730 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd grew its position in shares of Uranium Energy by 565.1% during the 2nd quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 58,749 shares of the basic materials company's stock valued at $399,000 after purchasing an additional 49,916 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Uranium Energy by 732.8% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after purchasing an additional 3,503 shares during the period. Finally, Blair William & Co. IL raised its position in shares of Uranium Energy by 1.1% in the second quarter. Blair William & Co. IL now owns 160,200 shares of the basic materials company's stock worth $1,089,000 after buying an additional 1,700 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

Insider Activity at Uranium Energy

In other Uranium Energy news, Director David Kong sold 50,800 shares of Uranium Energy stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total transaction of $488,696.00. Following the transaction, the director directly owned 182,237 shares of the company's stock, valued at approximately $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on UEC shares. BMO Capital Markets restated a "market perform" rating and set a $14.00 target price (up from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. Canaccord Genuity Group set a $17.50 price objective on Uranium Energy and gave the stock a "buy" rating in a report on Wednesday, September 24th. The Goldman Sachs Group upped their price objective on shares of Uranium Energy from $13.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Stifel Canada upgraded shares of Uranium Energy to a "strong-buy" rating in a research report on Friday, October 3rd. Finally, Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Uranium Energy has an average rating of "Buy" and a consensus target price of $13.80.

Uranium Energy Trading Down 10.6%

Shares of NYSEAMERICAN UEC opened at $13.51 on Wednesday. The stock's 50-day moving average is $12.47 and its 200 day moving average is $8.54. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -79.47 and a beta of 1.40. Uranium Energy Corp. has a 1-year low of $3.85 and a 1-year high of $17.80.

Uranium Energy Company Profile

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.

Want to see what other hedge funds are holding UEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.