Uranium Energy Corp. $UEC Shares Purchased by Pinnacle Associates Ltd.

Key Points

• Pinnacle Associates increased its stake in Uranium Energy Corp. by 38.2% in Q3 to 1,463,561 shares (adding 404,799 shares), part of broad institutional buying that includes Vanguard (35.7M shares, ~$476.6M) and a new Norges Bank stake (~$105M), leaving 62.28% of the stock held by institutions.
• Analysts are generally positive with a consensus rating of "Moderate Buy" and a $15.66 average target after several upgrades and buy reiterations (Goldman Sachs $18, National Bank Financial $16.50), while UEC trades around $12.93 with a market cap near $6.25 billion.

Pinnacle Associates Ltd. boosted its holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 38.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,463,561 shares of the basic materials company's stock after acquiring an additional 404,799 shares during the period. Pinnacle Associates Ltd. owned about 0.30% of Uranium Energy worth $19,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Uranium Energy during the 2nd quarter worth approximately $105,058,000. Vanguard Group Inc. boosted its position in Uranium Energy by 34.5% during the 3rd quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company's stock valued at $476,588,000 after purchasing an additional 9,159,024 shares during the period. Caxton Associates LLP grew its stake in Uranium Energy by 11,233.4% during the 2nd quarter. Caxton Associates LLP now owns 4,093,058 shares of the basic materials company's stock worth $27,833,000 after buying an additional 4,056,943 shares during the last quarter. State Street Corp grew its stake in Uranium Energy by 9.5% during the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock worth $156,717,000 after buying an additional 2,000,516 shares during the last quarter. Finally, Sapient Capital LLC acquired a new stake in Uranium Energy in the third quarter worth $26,081,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on UEC shares. National Bank Financial raised their target price on Uranium Energy from $15.50 to $16.50 and gave the company an "outperform" rating in a research note on Friday, December 19th. Zacks Research raised shares of Uranium Energy from a "strong sell" rating to a "hold" rating in a report on Monday, December 1st. The Goldman Sachs Group reiterated a "buy" rating and issued a $18.00 price objective on shares of Uranium Energy in a research report on Wednesday, February 4th. Finally, Roth Mkm reissued a "buy" rating and set a $16.00 target price on shares of Uranium Energy in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Uranium Energy has an average rating of "Moderate Buy" and a consensus target price of $15.66.

Uranium Energy Price Performance

UEC opened at $12.93 on Monday. The stock's 50 day moving average price is $15.89 and its 200 day moving average price is $13.87. The stock has a market cap of $6.25 billion, a P/E ratio of -107.75 and a beta of 1.21. Uranium Energy Corp. has a 12 month low of $3.85 and a 12 month high of $20.34.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company's core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy's approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company's primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.

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