TD Securities Raises Uranium Energy (NYSEAMERICAN:UEC) Price Target 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 lifted by equities research analysts at TD Securities from $8.00 to $13.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the basic materials company's stock. TD Securities' target price would suggest a potential upside of 22.93% from the stock's previous close.

A number of other research firms have also issued reports on UEC. The Goldman Sachs Group raised shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday. BMO Capital Markets assumed coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 target price on the stock. Finally, HC Wainwright upped their target price on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $10.91.

Uranium Energy Stock Performance

Shares of UEC traded up $0.32 during trading hours on Friday, hitting $10.58. The stock had a trading volume of 7,888,522 shares, compared to its average volume of 10,970,298. The firm has a 50-day moving average price of $7.65 and a 200 day moving average price of $6.42. Uranium Energy has a fifty-two week low of $3.85 and a fifty-two week high of $10.88. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -62.26 and a beta of 1.44.

Insider Buying and Selling

In other news, Director David Kong sold 50,800 shares of the stock in a transaction 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 completion of the transaction, the director owned 182,237 shares of the company's stock, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Uranium Energy

Several institutional investors have recently modified their holdings of UEC. LPL Financial LLC lifted its holdings in shares of Uranium Energy by 78.3% in the fourth quarter. LPL Financial LLC now owns 182,338 shares of the basic materials company's stock valued at $1,220,000 after buying an additional 80,063 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Uranium Energy by 15.0% during the fourth quarter. Wells Fargo & Company MN now owns 753,643 shares of the basic materials company's stock valued at $5,042,000 after purchasing an additional 98,130 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Uranium Energy by 134.1% during the fourth quarter. Invesco Ltd. now owns 942,851 shares of the basic materials company's stock valued at $6,308,000 after purchasing an additional 540,049 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Uranium Energy in the 4th quarter worth about $8,524,000. Finally, Raymond James Financial Inc. purchased a new stake in Uranium Energy in the 4th quarter worth about $1,007,000. Institutional investors and hedge funds 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.

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