Uranium Energy Corp. $UEC Shares Purchased by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Uranium Energy Corp. by 99.4% during the second quarter, owning 338,267 shares valued at approximately $2.3 million.
• Multiple analysts, including Goldman Sachs and Roth Capital, have raised their target prices for Uranium Energy, with consensus ratings indicating a strong buy sentiment.
• Insider transactions show that Director David Kong sold 50,800 shares, reducing his ownership by 21.80%.

Shell Asset Management Co. increased its position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 99.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,267 shares of the basic materials company's stock after purchasing an additional 168,642 shares during the quarter. Shell Asset Management Co. owned 0.08% of Uranium Energy worth $2,300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Uranium Energy by 120.0% during the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company's stock worth $28,350,000 after acquiring an additional 3,235,394 shares during the period. Encompass Capital Advisors LLC grew its holdings in Uranium Energy by 255.1% during the first 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 grew its holdings in Uranium Energy by 8.6% during the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock worth $94,244,000 after acquiring an additional 1,559,173 shares during the period. Titan Global Capital Management USA LLC acquired a new stake in Uranium Energy during the first quarter worth about $6,891,000. Finally, General American Investors Co. Inc. acquired a new stake in Uranium Energy during the first quarter worth about $5,296,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on Uranium Energy from $13.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Roth Capital raised their target price on Uranium Energy from $11.50 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. HC Wainwright raised their price objective on Uranium Energy from $12.75 to $19.75 and gave the company a "buy" rating in a report on Thursday, September 25th. TD Securities raised their price objective on Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $14.00 price objective (up from $7.75) on shares of Uranium Energy in a report on Thursday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.80.

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 that occurred 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 transaction, the director owned 182,237 shares in the company, valued at $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $14.00 on Thursday. The company has a market cap of $6.51 billion, a PE ratio of -82.35 and a beta of 1.40. The stock's 50 day simple moving average is $11.47 and its 200-day simple moving average is $7.88. Uranium Energy Corp. has a 1-year low of $3.85 and a 1-year high of $15.06.

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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