Bank of New York Mellon Corp Purchases New Shares in Uranium Energy Corp. $UEC

Key Points

• Bank of New York Mellon acquired 1.8 million shares of Uranium Energy Corp. in the second quarter, worth approximately $19.2 million and representing a 0.36% stake.
• Institutional investors own 62.28% of UEC, with several funds either initiating positions or increasing their holdings during the quarter.
• UEC shares opened at $12.24, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $17.41; the company recently missed quarterly EPS estimates.

Bank of New York Mellon Corp acquired a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,798,273 shares of the basic materials company's stock, valued at approximately $19,170,000. Bank of New York Mellon Corp owned approximately 0.36% of Uranium Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in shares of Uranium Energy during the 2nd quarter worth $167,000. Heck Capital Advisors LLC bought a new position in shares of Uranium Energy during the 2nd quarter valued at approximately $155,000. Handelsbanken Fonder AB grew its position in shares of Uranium Energy by 11.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 171,600 shares of the basic materials company's stock valued at $1,829,000 after acquiring an additional 18,000 shares during the period. IFC & Insurance Marketing Inc. purchased a new stake in shares of Uranium Energy during the 2nd quarter worth approximately $138,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Uranium Energy by 10.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 212,252 shares of the basic materials company's stock worth $2,263,000 after purchasing an additional 19,351 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

Uranium Energy Stock Down 1.3%

UEC stock opened at $12.24 on Tuesday. The stock has a 50-day simple moving average of $10.76 and a two-hundred day simple moving average of $12.80. Uranium Energy Corp. has a twelve month low of $8.90 and a twelve month high of $20.34. The firm has a market capitalization of $6.06 billion, a PE ratio of -102.00 and a beta of 1.22.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on UEC shares. The Goldman Sachs Group reiterated a "buy" rating and issued a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reissued a "buy" rating on shares of Uranium Energy in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Uranium Energy currently has an average rating of "Moderate Buy" and an average target price of $17.41.

Uranium Energy Company Profile

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.

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