Uranium Energy (NYSEAMERICAN:UEC) Price Target Raised to $13.00

Key Points

• TD Securities has increased the target price for Uranium Energy (NYSEAMERICAN: UEC) from $8.00 to $13.00, indicating a potential upside of 22.93% from its previous close.
• In addition, several other firms have also expressed positive sentiments, with Goldman Sachs assigning a "strong-buy" rating and other analysts providing a consensus target price of $10.91 for the stock.
• Despite recent insider selling, institutional investors hold 62.28% of Uranium Energy's stock, reflecting significant interest in the company.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) had its target price raised by investment analysts at TD Securities from $8.00 to $13.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the basic materials company's stock. TD Securities' target price would indicate a potential upside of 38.45% from the company's previous close.

Several other equities research analysts have also recently commented on UEC. The Goldman Sachs Group upgraded Uranium Energy to a "strong-buy" rating in a research note on Tuesday, August 12th. BMO Capital Markets assumed coverage on Uranium Energy in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target on the stock. Finally, HC Wainwright increased their price objective on Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $10.91.

Uranium Energy Stock Performance

UEC traded down $0.27 during midday trading on Friday, reaching $9.39. 10,796,605 shares of the company were exchanged, compared to its average volume of 12,917,763. Uranium Energy has a one year low of $3.85 and a one year high of $10.88. The stock has a market capitalization of $4.17 billion, a P/E ratio of -55.23 and a beta of 1.44. The stock's 50-day simple moving average is $7.95 and its 200 day simple moving average is $6.47.

Insider Transactions at Uranium Energy

In related 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 transaction of $488,696.00. Following the transaction, the director directly owned 182,237 shares in the company, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uranium Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new position in shares of Uranium Energy in the 1st quarter valued at approximately $27,000. IFP Advisors Inc grew its holdings in shares of Uranium Energy by 732.8% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock worth $27,000 after acquiring an additional 3,503 shares during the period. Operose Advisors LLC bought a new stake in shares of Uranium Energy in the second quarter worth $34,000. Farther Finance Advisors LLC grew its holdings in shares of Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after acquiring an additional 2,364 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Uranium Energy in the first quarter worth $36,000. Hedge funds and other institutional investors own 62.28% of the company's stock.

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.