The Manufacturers Life Insurance Company Purchases New Position in Uranium Energy Corp. $UEC

Key Points

• The Manufacturers Life Insurance Company purchased 239,712 shares of Uranium Energy, valued at approximately $2.56 million, during the second quarter. Institutional investors and hedge funds collectively own 62.28% of UEC.
• UEC shares opened at $11.62, with a 12-month trading range of $8.90 to $20.34. The company reported a quarterly loss of $0.07 per share, missing analysts’ $0.03 loss estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $17.41, including Goldman Sachs’ $16.00 target and a reiterated “Buy” rating.

The Manufacturers Life Insurance Company purchased a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 239,712 shares of the basic materials company's stock, valued at approximately $2,555,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UEC. Caitong International Asset Management Co. Ltd acquired a new position in shares of Uranium Energy in the 4th quarter valued at $39,000. PenderFund Capital Management Ltd. acquired a new stake in Uranium Energy during the 4th quarter worth $39,000. EFG International AG purchased a new stake in Uranium Energy in the fourth quarter valued at $47,000. Longview Financial Advisors Inc. purchased a new stake in Uranium Energy in the first quarter valued at $52,000. Finally, Allworth Financial LP boosted its stake in Uranium Energy by 177.6% in the fourth quarter. Allworth Financial LP now owns 4,714 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 3,016 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company's stock.

Uranium Energy Price Performance

Shares of Uranium Energy stock opened at $11.62 on Thursday. The firm's fifty day simple moving average is $10.78 and its 200-day simple moving average is $12.74. Uranium Energy Corp. has a 12 month low of $8.90 and a 12 month high of $20.34. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -96.83 and a beta of 1.23.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last issued its quarterly 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). Analysts anticipate that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on UEC shares. The Goldman Sachs Group reaffirmed a "buy" rating and set a $16.00 price objective on shares of Uranium Energy in a report on Tuesday, June 9th. HC Wainwright reissued a "buy" rating on shares of Uranium Energy in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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