Uranium Energy Corp. $UEC Shares Newly Acquired by Segra Capital Management LLC

Key Points

• Segra Capital Management acquired 550,000 shares of Uranium Energy in the third quarter, valued at approximately $5.2 million. The position represents about 0.5% of Segra’s portfolio and 0.11% of UEC’s outstanding shares.
• Institutional ownership remains significant at 62.28%, with major purchases from BlackRock, Bank of America and other investment firms.
• UEC shares rose 10.8% to $10.36, while analysts maintained a Moderate Buy consensus and an average price target of $16.75. The company nevertheless missed quarterly earnings expectations, reporting a loss of $0.12 per share versus the expected $0.04 loss.

Segra Capital Management LLC bought a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 550,000 shares of the basic materials company's stock, valued at approximately $5,198,000. Uranium Energy comprises approximately 0.5% of Segra Capital Management LLC's investment portfolio, making the stock its 11th biggest position. Segra Capital Management LLC owned about 0.11% of Uranium Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of UEC. Ninepoint Partners LP purchased a new position in shares of Uranium Energy during the second quarter valued at approximately $1,125,000. Bank of America Corp DE acquired a new position in Uranium Energy in the 2nd quarter valued at $14,195,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Uranium Energy in the 4th quarter valued at $1,533,000. BlackRock Inc. purchased a new position in shares of Uranium Energy during the 2nd quarter worth $432,676,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Uranium Energy during the second quarter worth $1,034,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Uranium Energy Trading Up 10.8%

NYSEAMERICAN:UEC traded up $1.01 on Tuesday, hitting $10.36. 8,433,324 shares of the stock were exchanged, compared to its average volume of 9,769,021. The stock has a market cap of $5.14 billion, a PE ratio of -36.85 and a beta of 1.38. The stock has a fifty day moving average of $10.82 and a 200-day moving average of $11.99. Uranium Energy Corp. has a fifty-two week low of $8.90 and a fifty-two week high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released its quarterly earnings data on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $17.05 million during the quarter, compared to analyst estimates of $9.00 million. As a group, analysts predict that Uranium Energy Corp. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on UEC. HC Wainwright reaffirmed a "buy" rating and issued a $26.75 price objective on shares of Uranium Energy in a research report on Wednesday, September 30th. The Goldman Sachs Group reissued a "buy" rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. Royal Bank Of Canada began coverage on Uranium Energy in a report on Friday. They issued a "sector perform" rating and a $10.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a report on Thursday, September 3rd. They set a "hold" rating and a $11.50 price objective on the stock. Finally, National Bank Financial decreased their target price on shares of Uranium Energy from $16.00 to $15.00 and set an "outperform" rating on the stock in a research report on Monday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

Uranium Energy Profile

Uranium Energy Corp. is a uranium mining and exploration company headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC's U.S. assets include ISR projects, processing facilities and associated resource properties.

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