MMCAP International Inc. SPC Acquires 1,559,173 Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC)

Key Points

• MMCAP International Inc. SPC increased its stake in Uranium Energy Corp. by 8.6%, making it the largest holding within its portfolio, representing approximately 16.2% of total holdings.
• Uranium Energy's stock has recently experienced a 3.4% increase, bringing its market capitalization to $4.52 billion and maintaining a price-to-earnings ratio of -59.88.
• Wall Street analysts project growth, with HC Wainwright raising their price target for Uranium Energy from $12.25 to $12.75 and five analysts giving the stock a buy rating.

MMCAP International Inc. SPC boosted its holdings in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 19,716,341 shares of the basic materials company's stock after purchasing an additional 1,559,173 shares during the period. Uranium Energy makes up 16.2% of MMCAP International Inc. SPC's investment portfolio, making the stock its largest holding. MMCAP International Inc. SPC owned about 4.66% of Uranium Energy worth $94,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sei Investments Co. lifted its holdings in shares of Uranium Energy by 9.7% during the fourth quarter. Sei Investments Co. now owns 19,381 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 1,710 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Uranium Energy by 1.6% in the first quarter. Arizona State Retirement System now owns 121,359 shares of the basic materials company's stock worth $580,000 after acquiring an additional 1,962 shares during the period. Farther Finance Advisors LLC boosted its stake in Uranium Energy by 43.5% during the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after buying an additional 2,364 shares during the last quarter. Xponance Inc. lifted its stake in shares of Uranium Energy by 7.7% in the 1st quarter. Xponance Inc. now owns 33,240 shares of the basic materials company's stock valued at $159,000 after purchasing an additional 2,385 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Uranium Energy by 6.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 41,733 shares of the basic materials company's stock valued at $279,000 after purchasing an additional 2,570 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Uranium Energy Trading Up 1.5%

Shares of NYSEAMERICAN:UEC traded up $0.16 on Wednesday, reaching $10.49. The company had a trading volume of 4,145,389 shares, compared to its average volume of 10,931,036. The firm has a market capitalization of $4.66 billion, a PE ratio of -61.65 and a beta of 1.44. Uranium Energy Corp. has a 52-week low of $3.85 and a 52-week high of $10.88. The firm's 50 day simple moving average is $7.48 and its 200-day simple moving average is $6.37.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the sale, the director owned 182,237 shares of the company's stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on UEC. HC Wainwright raised their price objective on Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets initiated 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. Finally, The Goldman Sachs Group upgraded Uranium Energy to a "strong-buy" rating in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $10.61.

About Uranium Energy

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.