Encompass Capital Advisors LLC Buys 3,033,974 Shares of Uranium Energy Corp. $UEC

Key Points

• Encompass Capital Advisors LLC significantly increased its stake in Uranium Energy Corp. by 255.1%, acquiring over 3 million shares to own about 1.00% of the company, valued at approximately $20.2 million.
• Uranium Energy's stock has been rising, up 4.8% recently, with a current price of $11.51, reflecting a strong market interest and a market cap of $5.11 billion.
• Recent analyst reports show positive sentiment, with major firms like Goldman Sachs and TD Securities issuing upgrades and setting higher price targets for the stock, indicating a consensus of "Buy" ratings.

Encompass Capital Advisors LLC grew its position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 255.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,223,438 shares of the basic materials company's stock after purchasing an additional 3,033,974 shares during the period. Encompass Capital Advisors LLC owned about 1.00% of Uranium Energy worth $20,188,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Uranium Energy in the 1st quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Uranium Energy in the 1st quarter worth about $36,000. Farther Finance Advisors LLC increased its position in 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 worth $36,000 after purchasing an additional 2,364 shares during the last quarter. Oarsman Capital Inc. increased its position in Uranium Energy by 900.0% in the 1st quarter. Oarsman Capital Inc. now owns 10,000 shares of the basic materials company's stock worth $48,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Uranium Energy in the 4th quarter worth about $76,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Trading Up 5.8%

NYSEAMERICAN:UEC traded up $0.65 during mid-day trading on Monday, hitting $11.82. 17,160,879 shares of the company's stock traded hands, compared to its average volume of 11,139,296. The firm has a 50 day moving average of $8.93 and a two-hundred day moving average of $6.72. Uranium Energy Corp. has a 12 month low of $3.85 and a 12 month high of $11.89. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -69.53 and a beta of 1.42.

Insiders Place Their Bets

In related news, Director David Kong sold 50,800 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the sale, the director owned 182,237 shares in the company, valued at $1,753,119.94. This represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on UEC. The Goldman Sachs Group raised Uranium Energy to a "strong-buy" rating in a research report on Tuesday, August 12th. HC Wainwright increased their price objective on Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a report on Wednesday, August 6th. Roth Capital increased their price objective on Uranium Energy from $10.50 to $11.50 and gave the company a "buy" rating in a report on Wednesday, September 3rd. TD Securities increased their price objective on Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, BMO Capital Markets initiated coverage on Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $10.97.

About Uranium Energy

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.