Hsbc Holdings PLC Sells 258,045 Shares of Uranium Energy Corp. $UEC

Key Points

• HSBC Holdings reduced its Uranium Energy stake by 69.9% in the second quarter, selling 258,045 shares and retaining 110,960 shares valued at approximately $1.18 million.
• Institutional investors own 62.28% of UEC, with major holders including Price T. Rowe Associates, BlackRock, State Street, VanEck Associates and Alps Advisors generally increasing their positions.
• UEC shares opened at $10.45, near the lower end of their 52-week range. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $16.75, implying potential upside.

Hsbc Holdings PLC trimmed its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 69.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,960 shares of the basic materials company's stock after selling 258,045 shares during the quarter. Hsbc Holdings PLC's holdings in Uranium Energy were worth $1,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UEC. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 7,013,279 shares in the last quarter. BlackRock Inc. bought a new stake in Uranium Energy during the 2nd quarter worth $432,676,000. State Street Corp grew its position in Uranium Energy by 9.5% during the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock worth $156,717,000 after acquiring an additional 2,000,516 shares during the last quarter. Van ECK Associates Corp increased its holdings in Uranium Energy by 25.3% in 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. increased its holdings in Uranium Energy by 16.3% in 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 own 62.28% of the company's stock.

Uranium Energy Stock Performance

Shares of Uranium Energy stock opened at $10.45 on Friday. The stock has a market capitalization of $5.17 billion, a PE ratio of -87.08 and a beta of 1.23. Uranium Energy Corp. has a 52 week low of $8.90 and a 52 week high of $20.34. The stock has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $12.55.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on UEC shares. HC Wainwright reiterated a "buy" rating on shares of Uranium Energy in a report on Wednesday, August 26th. Jefferies Financial Group began coverage on shares of Uranium Energy in a research report on Thursday, September 3rd. They issued a "hold" rating and a $11.50 price target for the company. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.75.

About Uranium Energy

Uranium Energy Corp. (NYSE American: UEC) is a uranium mining and nuclear fuel company focused on the exploration, development and production of uranium in the United States and Canada. Its activities support the supply of uranium used to generate nuclear power.

The company's U.S. portfolio includes in-situ recovery uranium projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson Processing Facility and nearby well-field projects, while its Wyoming assets include the Irigaray Central Processing Plant and the Christensen Ranch project.

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