Uranium Energy (NYSEAMERICAN:UEC) Hits New 52-Week Low - Should You Sell?

Key Points

• Uranium Energy shares fell to a new 52-week low of $6.52 on Thursday, down about 9% from the prior close of $7.19.
• Analyst views were mixed, but the consensus rating remained “Moderate Buy” with a $16.75 average price target; five analysts rated the stock Buy, two Hold, and one Sell.
• The company reported a quarterly loss of $0.12 per share, missing the $0.04 loss analysts expected, while revenue of $17.05 million exceeded the $9 million forecast.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shares hit a new 52-week low on Thursday. The company traded as low as $6.52 and last traded at $6.5290, with a volume of 3,941,700 shares changing hands. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

Several analysts recently commented on UEC shares. HC Wainwright restated a "buy" rating and set a $26.75 price target on shares of Uranium Energy in a report on Wednesday, September 30th. Jefferies Financial Group initiated coverage on shares of Uranium Energy in a research note on Thursday, September 3rd. They issued a "hold" rating and a $11.50 price objective on the stock. Royal Bank Of Canada initiated coverage on shares of Uranium Energy in a research report on Friday, October 2nd. They issued a "sector perform" rating and a $10.00 target price for the company. National Bank Financial decreased their target price on shares of Uranium Energy from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, October 5th. Finally, Zacks Research cut shares of Uranium Energy from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Uranium Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.75.

Uranium Energy Trading Down 9.0%

The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -23.27 and a beta of 1.36. The company has a fifty day moving average price of $9.55 and a 200-day moving average price of $12.40.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last issued 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 company had revenue of $17.05 million for the quarter, compared to analysts' expectations of $9.00 million. As a group, sell-side analysts predict that Uranium Energy Corp. will post -0.20 EPS for the current fiscal year.

Institutional Trading of Uranium Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fulcrum Asset Management LLP increased its stake in shares of Uranium Energy by 205.0% in the third quarter. Fulcrum Asset Management LLP now owns 135,154 shares of the basic materials company's stock valued at $1,256,000 after buying an additional 90,845 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Uranium Energy by 4.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 36,372 shares of the basic materials company's stock worth $340,000 after acquiring an additional 1,518 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Uranium Energy by 68.0% during the 3rd quarter. Pictet Asset Management Holding SA now owns 134,611 shares of the basic materials company's stock worth $1,272,000 after acquiring an additional 54,495 shares during the last quarter. Alps Advisors Inc. increased its position in Uranium Energy by 14.4% in the 3rd quarter. Alps Advisors Inc. now owns 11,242,054 shares of the basic materials company's stock valued at $106,237,000 after acquiring an additional 1,412,725 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in Uranium Energy in the 3rd quarter valued at about $197,000. Institutional investors and hedge funds own 62.28% of the company's stock.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on developing and producing uranium in the United States. The company uses in-situ recovery (ISR) technology, which extracts uranium from underground deposits by circulating a solution through the orebody and processing the recovered materials into uranium concentrate, commonly known as yellowcake.

Uranium Energy's U.S. assets include projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson processing plant and nearby ISR projects, while its Wyoming portfolio includes the Christensen Ranch and other properties in the Powder River Basin.

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