Ur Energy (NYSEAMERICAN:URG) Shares Gap Up - Here's What Happened

Key Points

• Ur Energy shares experienced a significant gap up, opening at $2.30 compared to the previous close of $2.10, with a trading volume of over 5.6 million shares.
• A number of analysts have issued a buy rating for Ur Energy, with price targets ranging from $2.50 to $3.00, leading to a consensus target of $2.44.
• Insider trading activity showed a notable decrease in stock ownership, with key executives selling shares totaling over $1 million in value over the last 90 days.

Ur Energy Inc (NYSEAMERICAN:URG - Get Free Report) TSE: URE shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.10, but opened at $2.30. Ur Energy shares last traded at $2.13, with a volume of 5,620,171 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Maxim Group assumed coverage on shares of Ur Energy in a research note on Friday, July 25th. They set a "buy" rating and a $3.00 price objective on the stock. B. Riley lifted their price objective on shares of Ur Energy from $2.00 to $2.50 and gave the company a "buy" rating in a research note on Thursday, September 25th. Finally, Roth Capital lifted their price objective on shares of Ur Energy from $1.60 to $1.80 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $2.44.

Ur Energy Price Performance

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 market cap of $739.97 million, a price-to-earnings ratio of -11.91 and a beta of 0.96. The business's 50-day moving average price is $1.52 and its two-hundred day moving average price is $1.13.

Insiders Place Their Bets

In other Ur Energy news, Director Robby Sai Kit Chang sold 213,914 shares of Ur Energy stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $1.75, for a total value of $374,349.50. Following the completion of the transaction, the director owned 84,179 shares of the company's stock, valued at $147,313.25. The trade was a 71.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Steven M. Hatten sold 198,618 shares of Ur Energy stock in a transaction on Monday, August 25th. The stock was sold at an average price of $1.34, for a total transaction of $266,148.12. Following the completion of the transaction, the chief operating officer directly owned 324,775 shares of the company's stock, valued at approximately $435,198.50. This represents a 37.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 664,619 shares of company stock valued at $1,064,004 over the last 90 days. 3.29% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ur Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Ur Energy by 22.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 369,449 shares of the basic materials company's stock valued at $249,000 after acquiring an additional 66,616 shares during the period. Verity Asset Management Inc. boosted its holdings in shares of Ur Energy by 22.4% during the first quarter. Verity Asset Management Inc. now owns 364,594 shares of the basic materials company's stock valued at $246,000 after acquiring an additional 66,698 shares during the period. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Ur Energy by 2.3% during the first quarter. Goehring & Rozencwajg Associates LLC now owns 3,220,120 shares of the basic materials company's stock valued at $2,157,000 after acquiring an additional 71,906 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Ur Energy by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 790,184 shares of the basic materials company's stock valued at $533,000 after acquiring an additional 40,375 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of Ur Energy by 21.9% during the first 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. Institutional investors and hedge funds own 57.51% of the company's stock.

Ur Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.