Uranium Energy Corp. $UEC Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly increased its stake in Uranium Energy Corp. by 1,954.8% in Q2, now owning 153,614 shares valued at over $1 million.
• Several hedge funds have also raised their positions in Uranium Energy, with Victory Capital Management and Encompass Capital Advisors increasing their holdings by 120.0% and 255.1%, respectively.
• Analysts are bullish on UEC, with BMO Capital Markets and Goldman Sachs raising their price targets to between $14.00 and $17.00, and the stock currently has a consensus rating of Buy.

Mirae Asset Global Investments Co. Ltd. boosted its position in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 1,954.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 153,614 shares of the basic materials company's stock after purchasing an additional 146,138 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Uranium Energy were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Uranium Energy by 120.0% in the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company's stock valued at $28,350,000 after buying an additional 3,235,394 shares in the last quarter. Encompass Capital Advisors LLC grew its stake in Uranium Energy by 255.1% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company's stock worth $20,188,000 after acquiring an additional 3,033,974 shares during the period. MMCAP International Inc. SPC boosted its holdings in shares of Uranium Energy by 8.6% in the 1st quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock valued at $94,244,000 after purchasing an additional 1,559,173 shares during the last quarter. Titan Global Capital Management USA LLC acquired a new position in shares of Uranium Energy in the 1st quarter valued at $6,891,000. Finally, General American Investors Co. Inc. acquired a new position in shares of Uranium Energy during the 1st quarter valued at $5,296,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Analysts Set New Price Targets

UEC has been the topic of several analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $14.00 price target (up previously from $7.75) on shares of Uranium Energy in a research note on Thursday, September 25th. Stifel Canada raised shares of Uranium Energy to a "strong-buy" rating in a research report on Friday, October 3rd. The Goldman Sachs Group boosted their target price on shares of Uranium Energy from $13.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Canaccord Genuity Group set a $17.50 target price on shares of Uranium Energy and gave the company a "buy" rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $13.80.

Insider Buying and Selling

In other Uranium Energy news, Director David Kong sold 50,800 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

Uranium Energy Trading Down 3.2%

Shares of UEC opened at $13.55 on Friday. The firm has a 50-day moving average price of $11.57 and a 200 day moving average price of $7.94. Uranium Energy Corp. has a 12-month low of $3.85 and a 12-month high of $15.06. The firm has a market capitalization of $6.31 billion, a P/E ratio of -79.70 and a beta of 1.40.

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.

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