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

Key Points

• Uranium Energy Corp. reached a new 52-week high of $13.25, with a recent trading price of $13.17 and over 22 million shares traded.
• Multiple analysts have issued positive ratings, with price targets raised, including a notable increase from TD Securities from $8.00 to $13.00, signaling strong investor confidence.
• Institutional investors own approximately 62.28% of the company's stock, indicating significant institutional interest and potential stability for the stock's future performance.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.25 and last traded at $13.17, with a volume of 22302037 shares changing hands. The stock had previously closed at $11.87.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on UEC shares. HC Wainwright increased their price target on Uranium Energy from $12.25 to $12.75 and gave the company a "buy" rating in a research note on Wednesday, August 6th. BMO Capital Markets assumed coverage on Uranium Energy in a research note on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target for the company. TD Securities lifted their price target on 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 boosted their price objective on Uranium Energy from $10.50 to $11.50 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Finally, The Goldman Sachs Group raised Uranium Energy to a "strong-buy" rating in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $10.97.

Uranium Energy Stock Up 0.7%

The stock has a market cap of $5.49 billion, a PE ratio of -72.64 and a beta of 1.42. The business has a 50 day moving average price of $10.09 and a 200 day moving average price of $7.12.

Insider Activity

In other Uranium Energy news, Director David Kong sold 50,800 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the sale, the director directly owned 182,237 shares of the company's stock, 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 can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Uranium Energy by 9.5% in the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company's stock worth $156,717,000 after purchasing an additional 2,000,516 shares in the last quarter. MMCAP International Inc. SPC lifted its stake in Uranium Energy by 8.6% during the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company's stock worth $94,244,000 after purchasing an additional 1,559,173 shares during the last quarter. Norges Bank bought a new position in Uranium Energy during the second quarter worth $105,058,000. Geode Capital Management LLC grew its holdings in shares of Uranium Energy by 3.0% during 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 buying an additional 289,662 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Uranium Energy by 10.9% during the second quarter. Ameriprise Financial Inc. now owns 7,379,554 shares of the basic materials company's stock valued at $50,181,000 after purchasing an additional 722,458 shares in the last quarter. Institutional investors and hedge funds 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.