Ninepoint Partners LP Invests $538,000 in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Ninepoint Partners LP purchased a new stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 112,625 shares of the basic materials company's stock, valued at approximately $538,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Uranium Energy by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,230,344 shares of the basic materials company's stock valued at $195,551,000 after buying an additional 423,233 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Uranium Energy by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company's stock worth $173,017,000 after purchasing an additional 631,929 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Uranium Energy by 45.9% in the 4th quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock worth $105,988,000 after purchasing an additional 4,982,949 shares in the last quarter. Norges Bank bought a new stake in shares of Uranium Energy in the 4th quarter worth approximately $100,773,000. Finally, Driehaus Capital Management LLC boosted its holdings in Uranium Energy by 52.2% during the fourth quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company's stock worth $63,554,000 after buying an additional 3,259,704 shares in the last quarter. 62.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets started coverage on Uranium Energy in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target on the stock. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $10.13.

Uranium Energy Stock Up 1.6%

Shares of UEC traded up $0.14 during mid-day trading on Friday, reaching $8.91. The company's stock had a trading volume of 13,825,342 shares, compared to its average volume of 13,509,218. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -52.41 and a beta of 1.42. The business has a fifty day moving average of $6.65 and a 200 day moving average of $6.31. Uranium Energy Corp. has a 1 year low of $3.85 and a 1 year high of $9.09.

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.