Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Up - Time to Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $6.25, but opened at $6.70. Uranium Energy shares last traded at $7.05, with a volume of 8,249,635 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on UEC. BMO Capital Markets started coverage on shares of Uranium Energy in a research report on Tuesday, June 3rd. They set an "outperform" rating and a $7.75 price target on the stock. Stifel Nicolaus set a $10.50 target price on shares of Uranium Energy in a research report on Wednesday, March 12th. HC Wainwright reaffirmed a "buy" rating and issued a $12.25 target price on shares of Uranium Energy in a report on Thursday, March 13th. Finally, Stifel Canada raised Uranium Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $10.13.

Uranium Energy Trading Up 8.4%

The stock has a market capitalization of $2.87 billion, a PE ratio of -56.46 and a beta of 1.88. The business's 50 day moving average is $5.48 and its 200 day moving average is $6.51.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently modified their holdings of UEC. Rhumbline Advisers grew its position in shares of Uranium Energy by 3.3% during the first quarter. Rhumbline Advisers now owns 599,395 shares of the basic materials company's stock worth $2,865,000 after buying an additional 19,416 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Uranium Energy by 114.0% during the 1st quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company's stock worth $174,000 after purchasing an additional 19,407 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Uranium Energy by 44.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company's stock worth $6,537,000 after purchasing an additional 423,994 shares in the last quarter. Caxton Associates LLP purchased a new position in Uranium Energy in the first quarter valued at $173,000. Finally, Teza Capital Management LLC acquired a new stake in Uranium Energy in the first quarter valued at $49,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

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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