Van ECK Associates Corp Acquires 5,191,738 Shares of Uranium Energy Corp. $UEC

Key Points

• Van ECK Associates increased its Uranium Energy stake by 21.8%, acquiring 5.19 million additional shares to own 29.03 million shares, or approximately 5.87% of the company, valued at $309.5 million.
• UEC shares opened at $12.40 after declining 9%, while the company reported a quarterly loss of $0.07 per share, missing the $0.03-per-share consensus estimate.
• Analysts remain broadly positive, with one Strong Buy, six Buy, and two Hold ratings; the stock carries a “Moderate Buy” consensus and an average price target of $17.41.

Van ECK Associates Corp increased its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,034,465 shares of the basic materials company's stock after acquiring an additional 5,191,738 shares during the period. Van ECK Associates Corp owned approximately 5.87% of Uranium Energy worth $309,507,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. PenderFund Capital Management Ltd. bought a new stake in shares of Uranium Energy in the 2nd quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd purchased a new stake in Uranium Energy during the 4th quarter valued at $39,000. EFG International AG bought a new stake in Uranium Energy in the second quarter worth $43,000. Longview Financial Advisors Inc. purchased a new position in Uranium Energy during the first quarter worth $52,000. Finally, Allworth Financial LP raised its stake in shares of Uranium Energy by 177.6% in the fourth quarter. Allworth Financial LP now owns 4,714 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 3,016 shares during the period. 62.28% of the stock is owned by institutional investors.

Uranium Energy Trading Down 9.0%

UEC opened at $12.40 on Friday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -103.33 and a beta of 1.22. Uranium Energy Corp. has a 12-month low of $8.90 and a 12-month high of $20.34. The business's fifty day simple moving average is $10.74 and its 200-day simple moving average is $12.85.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities research analysts predict that Uranium Energy Corp. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on UEC shares. The Goldman Sachs Group reiterated a "buy" rating and set a $16.00 price target on shares of Uranium Energy in a report on Tuesday, June 9th. HC Wainwright reiterated a "buy" rating on shares of Uranium Energy in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Uranium Energy presently has an average rating of "Moderate Buy" and an average target price of $17.41.

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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