Ur Energy (NYSEAMERICAN:URG) Sets New 1-Year High - Still a Buy?

Key Points

• Ur Energy achieved a new 52-week high, trading at $1.64, with a significant volume of over 10 million shares exchanged.
• Multiple analysts have issued a buy rating for Ur Energy's stock, with target prices ranging from $2.00 to $3.00, resulting in an average price target of $2.48.
• Institutional ownership has increased significantly, with several hedge funds boosting their holdings, resulting in them owning over 57% of the company's stock.

Ur Energy Inc (NYSEAMERICAN:URG - Get Free Report) TSE: URE's stock price reached a new 52-week high on Friday . The company traded as high as $1.62 and last traded at $1.64, with a volume of 10467306 shares changing hands. The stock had previously closed at $1.51.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on URG. Maxim Group began coverage on shares of Ur Energy in a research report on Friday, July 25th. They set a "buy" rating and a $3.00 target price for the company. B. Riley began coverage on shares of Ur Energy in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $2.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $2.48.

Ur Energy Price Performance

The firm has a market capitalization of $601.97 million, a PE ratio of -9.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 2.49. The firm has a 50-day simple moving average of $1.34 and a 200-day simple moving average of $1.00.

Insider Transactions at Ur Energy

In other Ur Energy news, COO Steven M. Hatten sold 198,618 shares of Ur Energy stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $1.34, for a total value of $266,148.12. Following the sale, the chief operating officer owned 324,775 shares of the company's stock, valued at $435,198.50. The trade was a 37.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ur Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. CenterBook Partners LP boosted its holdings in Ur Energy by 206.0% during the 1st quarter. CenterBook Partners LP now owns 12,172,000 shares of the basic materials company's stock valued at $8,205,000 after acquiring an additional 8,194,631 shares during the period. Fourth Sail Capital LP boosted its holdings in Ur Energy by 59.8% during the 2nd quarter. Fourth Sail Capital LP now owns 19,644,632 shares of the basic materials company's stock valued at $20,627,000 after acquiring an additional 7,348,764 shares during the period. Alps Advisors Inc. boosted its holdings in Ur Energy by 21.9% during the 1st quarter. Alps Advisors Inc. now owns 40,898,293 shares of the basic materials company's stock valued at $27,570,000 after acquiring an additional 7,341,627 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ur Energy by 22.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,265,195 shares of the basic materials company's stock valued at $16,477,000 after acquiring an additional 4,372,738 shares during the period. Finally, Jane Street Group LLC purchased a new position in Ur Energy during the 2nd quarter valued at $1,637,000. Hedge funds and other institutional investors own 57.51% of the company's stock.

About Ur Energy

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.

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