Titan Global Capital Management USA LLC Purchases New Stake in Uranium Energy Corp. $UEC

Key Points

• Titan Global Capital Management USA LLC has initiated a new investment in Uranium Energy Corp. (NYSEAMERICAN: UEC) worth approximately $6.89 million, acquiring 1,441,711 shares, which represents around 1.4% of their portfolio.
• Several institutional investors, including Russell Investments Group Ltd. and Farther Finance Advisors LLC, have also recently increased or established their stakes in Uranium Energy, with institutional ownership now at 62.28% of the stock.
• Analysts have a generally positive outlook on UEC, with HC Wainwright and TD Securities raising their price targets and issuing 'buy' ratings, indicating a consensus rating of 'Buy' with an average target of $10.91.

Titan Global Capital Management USA LLC purchased a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,441,711 shares of the basic materials company's stock, valued at approximately $6,891,000. Uranium Energy comprises approximately 1.4% of Titan Global Capital Management USA LLC's investment portfolio, making the stock its 19th largest holding. Titan Global Capital Management USA LLC owned 0.34% of Uranium Energy at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Uranium Energy by 9.5% during the 1st quarter. Wellington Management Group LLP now owns 723,422 shares of the basic materials company's stock worth $3,458,000 after purchasing an additional 62,562 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Uranium Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 4,156,467 shares of the basic materials company's stock worth $19,868,000 after purchasing an additional 128,329 shares during the last quarter. CacheTech Inc. acquired a new stake in shares of Uranium Energy during the 1st quarter worth about $79,000. Algert Global LLC acquired a new stake in shares of Uranium Energy during the 1st quarter worth about $171,000. Finally, Adams Wealth Management acquired a new stake in shares of Uranium Energy during the 1st quarter worth about $79,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David Kong sold 50,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the transaction, the director owned 182,237 shares in the company, valued at approximately $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company's stock.

Uranium Energy Stock Up 2.9%

Shares of UEC stock traded up $0.30 during trading hours on Tuesday, hitting $10.70. 15,269,521 shares of the company were exchanged, compared to its average volume of 11,092,106. The firm has a market cap of $4.75 billion, a PE ratio of -62.94 and a beta of 1.44. Uranium Energy Corp. has a 1 year low of $3.85 and a 1 year high of $11.03. The firm has a fifty day moving average of $8.17 and a 200 day moving average of $6.53.

Analysts Set New Price Targets

Several research firms have issued reports on UEC. HC Wainwright raised their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets began coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price objective on the stock. The Goldman Sachs Group upgraded shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, TD Securities increased their price objective on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Three research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $10.91.

Uranium Energy Company 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.