The Goldman Sachs Group Forecasts Strong Price Appreciation for Uranium Energy (NYSEAMERICAN:UEC) Stock

Key Points

• Goldman Sachs has raised its price target for Uranium Energy (NYSEAMERICAN: UEC) from $13.00 to $17.00, indicating a potential upside of 25.06% from the previous close.
• Multiple analysts have increased their price targets for UEC, with a consensus rating of "Buy" and an average price target of $13.80.
• Uranium Energy has attracted interest from institutional investors, who now own 62.28% of the company's stock, highlighting growing confidence in the company's future performance.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) had its price target boosted by analysts at The Goldman Sachs Group from $13.00 to $17.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. The Goldman Sachs Group's price target would indicate a potential upside of 25.06% from the company's previous close.

Other analysts also recently issued research reports about the company. BMO Capital Markets restated a "market perform" rating and set a $14.00 price objective (up previously from $7.75) on shares of Uranium Energy in a report on Thursday. TD Securities boosted their price objective on Uranium Energy from $8.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, August 15th. Zacks Research upgraded Uranium Energy from a "strong sell" rating to a "hold" rating in a report on Monday. HC Wainwright upped their target price on Uranium Energy from $12.75 to $19.75 and gave the company a "buy" rating in a report on Thursday. Finally, Roth Capital upped their target price on Uranium Energy from $11.50 to $16.00 and gave the company a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Uranium Energy presently has a consensus rating of "Buy" and an average price target of $13.80.

Uranium Energy Price Performance

Shares of NYSEAMERICAN UEC traded up $0.15 during midday trading on Friday, reaching $13.59. 8,660,562 shares of the company traded hands, compared to its average volume of 11,779,380. The stock has a 50-day moving average price of $10.58 and a 200 day moving average price of $7.38. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -67.91 and a beta of 1.42. Uranium Energy has a 52 week low of $3.85 and a 52 week high of $15.06.

Insider Transactions at Uranium Energy

In other Uranium Energy news, Director David Kong sold 50,800 shares of the company's stock in a transaction dated 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 $1,753,119.94. This represents a 21.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Uranium Energy

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in shares of Uranium Energy in the 1st quarter valued at about $27,000. IFP Advisors Inc grew its position in shares of Uranium Energy by 732.8% in the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company's stock valued at $27,000 after buying an additional 3,503 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Uranium Energy in the 2nd quarter valued at about $34,000. Farther Finance Advisors LLC grew its position in shares of Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock valued at $36,000 after buying an additional 2,364 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Uranium Energy in the 1st quarter valued at about $36,000. 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.

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