Encompass Capital Advisors LLC Acquires Shares of 3,000,000 Uranium Energy Corp. $UEC

Key Points

• Encompass Capital Advisors acquired 3 million Uranium Energy shares worth approximately $40.5 million, representing about 0.61% of UEC and 1.2% of the firm’s portfolio.
• Institutional ownership remains substantial at 62.28%, with major investors including T. Rowe Price, Vanguard, State Street, VanEck and Alps Advisors increasing their positions.
• UEC recently reported a quarterly loss of $0.07 per share, missing estimates by $0.04, while analysts maintain a “Moderate Buy” consensus with an average price target of $17.41 versus the stock’s recent $9.91 price.

Encompass Capital Advisors LLC acquired a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,000,000 shares of the basic materials company's stock, valued at approximately $40,500,000. Uranium Energy accounts for 1.2% of Encompass Capital Advisors LLC's holdings, making the stock its 21st largest holding. Encompass Capital Advisors LLC owned approximately 0.61% of Uranium Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Uranium Energy by 11.8% during the fourth 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 acquiring an additional 7,013,279 shares during the period. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 11,521,597 shares during the period. State Street Corp boosted its holdings in Uranium Energy by 9.5% in the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock valued at $156,717,000 after purchasing an additional 2,000,516 shares during the period. Van ECK Associates Corp grew its position in shares of Uranium Energy by 25.3% during the 4th quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company's stock worth $229,695,000 after purchasing an additional 3,969,046 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in shares of Uranium Energy by 16.3% during the 4th quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company's stock worth $203,959,000 after purchasing an additional 2,453,744 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Uranium Energy Price Performance

UEC stock opened at $9.91 on Tuesday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -82.58 and a beta of 1.18. The company has a 50 day simple moving average of $11.36 and a 200 day simple moving average of $13.83. Uranium Energy Corp. has a 1 year low of $7.80 and a 1 year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share 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

UEC has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $16.00 price target on shares of Uranium Energy in a research report on Tuesday, June 9th. HC Wainwright reissued a "buy" rating and set a $26.75 price target on shares of Uranium Energy in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.41.

Uranium Energy 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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