NewEdge Advisors LLC Sells 101,763 Shares of Uranium Energy Corp. $UEC

Key Points

• NewEdge Advisors cut its Uranium Energy holdings by 83.5% in the first quarter, selling 101,763 shares and retaining 20,096 shares valued at approximately $271,000.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $17.41; individual targets range from $16.00 to $26.75.
• UEC opened at $12.51, with a market capitalization of $6.19 billion, while its latest quarterly loss of $0.07 per share was worse than the expected $0.03 loss.

NewEdge Advisors LLC lowered its holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 83.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,096 shares of the basic materials company's stock after selling 101,763 shares during the period. NewEdge Advisors LLC's holdings in Uranium Energy were worth $271,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in UEC. PenderFund Capital Management Ltd. acquired a new stake in Uranium Energy during the fourth quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Uranium Energy during the 4th quarter valued at $39,000. Longview Financial Advisors Inc. acquired a new stake in shares of Uranium Energy during the 1st quarter worth $52,000. EFG International AG bought a new position in shares of Uranium Energy in the fourth quarter worth $47,000. Finally, Western Wealth Management LLC bought a new position in shares of Uranium Energy in the first quarter worth $60,000. 62.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UEC. The Goldman Sachs Group reiterated a "buy" rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reissued a "buy" rating and issued a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Uranium Energy currently has an average rating of "Moderate Buy" and a consensus price target of $17.41.

Uranium Energy Price Performance

UEC stock opened at $12.51 on Tuesday. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of -104.25 and a beta of 1.22. The company has a 50 day simple moving average of $10.64 and a 200 day simple moving average of $12.91. Uranium Energy Corp. has a 1 year low of $8.90 and a 1 year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last issued 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.

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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