Uranium Energy (NYSEAMERICAN:UEC) Shares Down 6.2% - Time to Sell?

Key Points

• Uranium Energy shares fell 6.2% to about $8.29, with trading volume below average. The stock remains below its 50-day and 200-day moving averages of $10.80 and $11.86, respectively.
• Analyst sentiment is mixed but leans positive: UEC has an overall “Moderate Buy” rating and an average price target of $16.75, despite one recent “Strong Sell” downgrade.
• The company missed quarterly earnings expectations, reporting a loss of $0.12 per share versus the expected $0.04 loss, although revenue of $17.05 million exceeded estimates. Institutional investors own approximately 62.28% of the stock.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s stock price traded down 6.2% on Tuesday. The stock traded as low as $8.27 and last traded at $8.2850. Approximately 6,171,459 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 9,758,836 shares. The stock had previously closed at $8.83.

Wall Street Analysts Forecast Growth

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

Uranium Energy Stock Down 6.3%

The business has a 50-day moving average price of $10.80 and a two-hundred day moving average price of $11.86. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -29.48 and a beta of 1.38.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last posted its quarterly earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share (EPS) 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 analyst estimates of $9.00 million. On average, sell-side analysts anticipate that Uranium Energy Corp. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Uranium Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Uranium Energy during the 2nd quarter worth $432,676,000. Van ECK Associates Corp grew its stake in shares of Uranium Energy by 21.8% in the 2nd quarter. Van ECK Associates Corp now owns 29,034,465 shares of the basic materials company's stock worth $309,507,000 after acquiring an additional 5,191,738 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Uranium Energy by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,642,038 shares of the basic materials company's stock worth $76,134,000 after acquiring an additional 170,510 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Uranium Energy by 62.2% in the second quarter. Wellington Management Group LLP now owns 5,310,825 shares of the basic materials company's stock valued at $56,613,000 after purchasing an additional 2,035,586 shares during the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in shares of Uranium Energy in the first quarter valued at about $40,500,000. 62.28% of the stock is owned by institutional investors.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC's U.S. assets include ISR projects, processing facilities and associated resource properties.

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