Millennium Management LLC Cuts Stake in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Millennium Management LLC reduced its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 52.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,880 shares of the basic materials company's stock after selling 468,310 shares during the quarter. Millennium Management LLC owned about 0.10% of Uranium Energy worth $2,889,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Uranium Energy during the fourth quarter worth approximately $100,773,000. JPMorgan Chase & Co. lifted its stake in shares of Uranium Energy by 45.9% in the fourth quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock valued at $105,988,000 after buying an additional 4,982,949 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Uranium Energy by 239.4% during the fourth quarter. Ameriprise Financial Inc. now owns 6,731,148 shares of the basic materials company's stock valued at $45,036,000 after buying an additional 4,748,138 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Uranium Energy by 52.2% in the 4th quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company's stock worth $63,554,000 after acquiring an additional 3,259,704 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new stake in Uranium Energy in the 4th quarter valued at $11,114,000. 62.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on UEC shares. National Bank Financial initiated coverage on shares of Uranium Energy in a research report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 target price for the company. National Bankshares set a $10.00 target price on Uranium Energy and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Stifel Nicolaus set a $10.50 price target on Uranium Energy in a research report on Wednesday, March 12th. BMO Capital Markets assumed coverage on Uranium Energy in a research note on Tuesday. They set an "outperform" rating and a $7.75 price target for the company. Finally, Stifel Canada upgraded Uranium Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Uranium Energy has a consensus rating of "Buy" and an average price target of $10.13.

Uranium Energy Stock Down 3.9%

UEC traded down $0.25 during trading on Wednesday, reaching $6.12. The company had a trading volume of 3,752,691 shares, compared to its average volume of 8,541,352. The business has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $6.44. The stock has a market cap of $2.59 billion, a P/E ratio of -50.87 and a beta of 1.88. Uranium Energy Corp. has a 52 week low of $3.85 and a 52 week high of $8.93.

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.