Uranium Energy (NYSEAMERICAN:UEC) Hits New 12-Month High - Time to Buy?

Key Points

• The share price of Uranium Energy Corp. reached a new 12-month high of $10.88, with analysts suggesting it remains a favorable investment.
• Five analysts currently rate the stock as a "buy" and three as "strong buy," indicating strong investor confidence and a consensus target price of $10.61.
• Institutional investors own approximately 62.28% of the company's stock, with significant recent increases in share holdings by major funds like MIRAE ASSET and MMCAP International.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.88 and last traded at $10.39, with a volume of 4384806 shares trading hands. The stock had previously closed at $10.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. HC Wainwright upped their price objective 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. The Goldman Sachs Group raised shares of Uranium Energy to a "strong-buy" rating in a research note on Tuesday. Finally, BMO Capital Markets began coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price objective for the company. Five equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Uranium Energy presently has a consensus rating of "Buy" and a consensus target price of $10.61.

Uranium Energy Stock Performance

The business's fifty day moving average price is $7.48 and its 200-day moving average price is $6.37. The stock has a market cap of $4.58 billion, a PE ratio of -60.67 and a beta of 1.44.

Insider Buying and Selling at Uranium Energy

In other Uranium Energy news, Director David Kong sold 50,800 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total transaction of $488,696.00. Following the sale, the director owned 182,237 shares in the company, valued at approximately $1,753,119.94. This trade represents a 21.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Uranium Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Uranium Energy by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,230,344 shares of the basic materials company's stock valued at $195,551,000 after purchasing an additional 423,233 shares in the last quarter. MMCAP International Inc. SPC grew its holdings in shares of Uranium Energy by 8.6% in the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock valued at $94,244,000 after purchasing an additional 1,559,173 shares in the last quarter. Norges Bank purchased a new position in shares of Uranium Energy in the second quarter valued at $105,058,000. Geode Capital Management LLC grew its holdings in shares of Uranium Energy by 3.0% in the second quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company's stock valued at $67,344,000 after purchasing an additional 289,662 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Uranium Energy by 52.2% during the fourth quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company's stock worth $63,554,000 after buying an additional 3,259,704 shares during the period. Institutional investors own 62.28% of the company's stock.

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.

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