Uranium Energy (NYSEAMERICAN:UEC) Sets New 12-Month High - Here's What Happened

Key Points

• Uranium Energy Corp. reached a new 52-week high of $11.89, closing at $11.82 with over 17 million shares traded.
• Analysts have issued a consensus rating of "Buy" for UEC, with multiple upgrades to price targets exceeding $12, indicating positive sentiment towards the stock.
• Significant institutional interest is reflected by Osaic Holdings boosting its stake by 88.4% and Caxton Associates increasing by over 11,000%, showcasing growing confidence from investors.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $11.89 and last traded at $11.82, with a volume of 17160879 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

A number of brokerages have weighed in on UEC. HC Wainwright upped their price objective on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a report on Wednesday, August 6th. BMO Capital Markets began coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price target on the stock. TD Securities increased their price target on shares of Uranium Energy from $8.00 to $13.00 and gave the company a "buy" rating in a report on Friday, August 15th. Roth Capital increased their price target on shares of 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 upgraded shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $10.97.

Uranium Energy Stock Down 1.5%

The company's fifty day moving average is $9.47 and its 200-day moving average is $6.90. The company has a market cap of $5.27 billion, a PE ratio of -69.82 and a beta of 1.42.

Insider Transactions at Uranium Energy

In related 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UEC. Cetera Investment Advisers raised its position in Uranium Energy by 18.8% in the fourth quarter. Cetera Investment Advisers now owns 57,384 shares of the basic materials company's stock worth $384,000 after acquiring an additional 9,074 shares during the period. Focus Partners Wealth bought a new position in Uranium Energy in the fourth quarter worth approximately $114,000. Gotham Asset Management LLC bought a new position in Uranium Energy in the fourth quarter worth approximately $293,000. Lazard Asset Management LLC bought a new position in Uranium Energy in the fourth quarter worth approximately $109,000. Finally, Nuveen Asset Management LLC raised its position in Uranium Energy by 47.9% in the fourth quarter. Nuveen Asset Management LLC now owns 1,557,012 shares of the basic materials company's stock worth $10,416,000 after acquiring an additional 504,471 shares during the period. 62.28% of the stock is currently owned by institutional investors.

Uranium Energy Company Profile

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.