Uranium Energy (NYSEAMERICAN:UEC) Reaches New 1-Year High - Here's Why

Key Points

• Uranium Energy Corp. achieved a new 52-week high, trading at $8.98 with a volume of over 7 million shares, indicating strong market activity.
• Analysts from BMO Capital Markets have given Uranium Energy an "outperform" rating and set a price target of $7.75, while the average target price stands at $10.13.
• Institutional investors own 62.28% of Uranium Energy's stock, demonstrating significant interest and confidence from hedge funds and financial institutions.
• The company, with a market capitalization of $4.03 billion, is actively involved in uranium exploration and processing across North America and Paraguay.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $8.96 and last traded at $8.98, with a volume of 7239164 shares. The stock had previously closed at $8.77.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets began coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price objective for the company. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Uranium Energy has an average rating of "Buy" and a consensus price target of $10.13.

Uranium Energy Price Performance

The stock has a 50-day moving average of $6.79 and a 200 day moving average of $6.30. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -51.47 and a beta of 1.42.

Institutional Investors Weigh In On Uranium Energy

Several hedge funds have recently added to or reduced their stakes in UEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $195,551,000 after acquiring an additional 423,233 shares during the period. Vanguard Group Inc. lifted its stake in Uranium Energy by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company's stock valued at $173,017,000 after buying an additional 631,929 shares during the period. MMCAP International Inc. SPC lifted its stake in 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 buying an additional 1,559,173 shares during the period. JPMorgan Chase & Co. lifted its stake in Uranium Energy by 45.9% in the fourth quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock valued at $105,988,000 after buying an additional 4,982,949 shares during the period. Finally, Norges Bank acquired a new position in Uranium Energy in the fourth quarter valued at approximately $100,773,000. Institutional investors and hedge funds own 62.28% of the company's stock.

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.