Driehaus Capital Management LLC Sells 2,130,560 Shares of Uranium Energy Corp. $UEC

Key Points

• Driehaus Capital Management LLC has reduced its stake in Uranium Energy Corp. by 22.4%, selling 2,130,560 shares during the first quarter, and now owns approximately 1.74% of the company valued at $35.2 million.
• Several hedge funds showed significant interest in Uranium Energy, with some firms increasing their positions, including Russell Investments Group Ltd. raising its stake by 3,198.9%.
• Analysts have a positive outlook on Uranium Energy, with a majority rating it as a "Buy" and Goldman Sachs upgrading it to a "strong-buy," while target prices have been raised by various research firms.

Driehaus Capital Management LLC cut its position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,369,282 shares of the basic materials company's stock after selling 2,130,560 shares during the period. Driehaus Capital Management LLC owned approximately 1.74% of Uranium Energy worth $35,225,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of UEC. Versant Capital Management Inc acquired a new stake in shares of Uranium Energy in the first quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Uranium Energy in the 1st quarter valued at about $36,000. Farther Finance Advisors LLC boosted its position in shares of Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 2,364 shares during the period. Oarsman Capital Inc. boosted its position in shares of Uranium Energy by 900.0% in the 1st quarter. Oarsman Capital Inc. now owns 10,000 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 9,000 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in Uranium Energy during the 4th quarter valued at approximately $76,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Trading Up 2.7%

Uranium Energy stock traded up $0.29 during mid-day trading on Tuesday, hitting $10.98. 11,657,996 shares of the company's stock were exchanged, compared to its average volume of 11,078,145. The stock has a market cap of $4.88 billion, a P/E ratio of -64.58 and a beta of 1.42. Uranium Energy Corp. has a 1-year low of $3.85 and a 1-year high of $11.29. The stock has a 50 day moving average of $8.57 and a two-hundred day moving average of $6.62.

Insider Activity

In related news, Director David Kong sold 50,800 shares of Uranium Energy stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the sale, the director directly owned 182,237 shares of the company's stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on UEC. The Goldman Sachs Group raised Uranium Energy to a "strong-buy" rating in a research note on Tuesday, August 12th. TD Securities upped their price objective on Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, August 15th. BMO Capital Markets assumed coverage on Uranium Energy in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price for the company. Finally, HC Wainwright increased their target price on Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $10.91.

Uranium Energy 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.