Uranium Energy (NYSEAMERICAN:UEC) Hits New 1-Year High - Here's What Happened

Key Points

• Uranium Energy Corp. (UEC) shares have reached a new 12-month high of $11.49, reflecting significant trading volume of over 2.2 million shares.
• Analysts have increased their price targets for UEC, with TD Securities setting a target of $13.00 and multiple analysts giving the stock a "Buy" or "Strong Buy" rating.
• Institutional investors now own 62.28% of Uranium Energy's stock, with several firms recently increasing their positions significantly.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $11.49 and last traded at $11.25, with a volume of 2229778 shares changing hands. The stock had previously closed at $10.98.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UEC shares. BMO Capital Markets started coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 target price for the company. The Goldman Sachs Group upgraded shares of Uranium Energy to a "strong-buy" rating in a research note on Tuesday, August 12th. TD Securities lifted their target price on shares of Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Roth Capital lifted their target price on shares of Uranium Energy from $10.50 to $11.50 and gave the company a "buy" rating in a research note on Wednesday. Finally, HC Wainwright lifted their target price on shares of Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $10.97.

Uranium Energy Trading Down 1.0%

The firm has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $6.73. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of -65.70 and a beta of 1.42.

Insider Activity

In other news, Director David Kong sold 50,800 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were 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. The trade was a 21.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Uranium Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UEC. Versant Capital Management Inc bought a new position in shares of Uranium Energy in the 1st quarter valued at about $27,000. IFP Advisors Inc grew its holdings 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 acquiring an additional 3,503 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Uranium Energy in the 2nd quarter valued at about $34,000. Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 2,364 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Uranium Energy in the 1st quarter valued at about $36,000. 62.28% of the stock is owned by institutional investors and hedge funds.

About Uranium Energy

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.