Bank of America Corp DE Sells 525,520 Shares of Uranium Energy Corp. $UEC

Key Points

• Bank of America reduced its Uranium Energy stake by 23.2%, selling 525,520 shares in the first quarter and retaining 1.74 million shares worth approximately $23.5 million.
• Institutional ownership remains substantial at 62.28%, with Vanguard, T. Rowe Price, VanEck, State Street and Norges Bank among investors that increased or initiated positions.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $17.41. However, Uranium Energy reported a quarterly loss of $0.07 per share, missing the $0.03 loss estimate.

Bank of America Corp DE lowered its position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,743,853 shares of the basic materials company's stock after selling 525,520 shares during the period. Bank of America Corp DE owned about 0.36% of Uranium Energy worth $23,542,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in UEC. Vanguard Group Inc. increased its stake in Uranium Energy by 32.2% in the 4th quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company's stock valued at $551,854,000 after buying an additional 11,521,597 shares during the last quarter. Norges Bank purchased a new position in shares of Uranium Energy in the 4th quarter worth approximately $118,019,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Uranium Energy by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company's stock worth $774,995,000 after buying an additional 7,013,279 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Uranium Energy by 25.3% in the fourth quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company's stock valued at $229,695,000 after acquiring an additional 3,969,046 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Uranium Energy by 18.5% in the fourth quarter. State Street Corp now owns 22,521,502 shares of the basic materials company's stock valued at $263,051,000 after acquiring an additional 3,509,848 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on UEC shares. HC Wainwright reaffirmed a "buy" rating and set a $26.75 price target on shares of Uranium Energy in a research report on Wednesday, June 10th. The Goldman Sachs Group restated a "buy" rating and issued a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.41.

Uranium Energy Stock Down 0.4%

Uranium Energy stock opened at $11.17 on Tuesday. Uranium Energy Corp. has a twelve month low of $8.90 and a twelve month high of $20.34. The firm has a 50 day moving average price of $10.53 and a 200-day moving average price of $13.13. The company has a market capitalization of $5.53 billion, a P/E ratio of -93.08 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). Equities analysts expect that Uranium Energy Corp. will post -0.15 EPS for the current fiscal year.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company's core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy's approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company's primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source