BlackRock Inc. Makes New $432.68 Million Investment in Uranium Energy Corp. $UEC

Key Points

• BlackRock disclosed a new $432.7 million stake in Uranium Energy, purchasing 40.6 million shares and becoming an 8.2% shareholder. Institutional investors collectively own 62.28% of the company.
• Uranium Energy shares opened at $13.27 after rising 6.1%, with a $6.57 billion market capitalization. The company reported a quarterly loss of $0.07 per share, missing analyst expectations of a $0.03 loss.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $17.41; individual targets include $16.00 from Goldman Sachs and $26.75 from HC Wainwright.

BlackRock Inc. bought a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 40,588,755 shares of the basic materials company's stock, valued at approximately $432,676,000. BlackRock Inc. owned 8.20% of Uranium Energy at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Pallas Capital Advisors LLC purchased a new stake in shares of Uranium Energy during the second quarter valued at approximately $108,000. Deutsche Bank AG purchased a new position in shares of Uranium Energy in the second quarter valued at $6,188,000. Perigon Wealth Management LLC purchased a new position in shares of Uranium Energy in the second quarter valued at $267,000. TimesSquare Capital Management LLC acquired a new stake in Uranium Energy during the 2nd quarter valued at $17,972,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Uranium Energy during the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Uranium Energy Trading Up 6.1%

Shares of NYSEAMERICAN:UEC opened at $13.27 on Wednesday. The firm has a market cap of $6.57 billion, a PE ratio of -110.58 and a beta of 1.22. The company has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $12.89. Uranium Energy Corp. has a 12-month low of $8.90 and a 12-month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its quarterly earnings data 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). As a group, equities research analysts forecast that Uranium Energy Corp. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright restated a "buy" rating and set a $26.75 target price on shares of Uranium Energy in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $17.41.

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.

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