Uranium Energy (NYSEAMERICAN:UEC) Trading 7% Higher - Here's What Happened

Key Points

• Uranium Energy shares rose 7% to $11.93, reaching as high as $11.97, though trading volume was 83% below the average session.
• Analysts remain generally bullish, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $17.41; Goldman Sachs and HC Wainwright reiterated buy ratings.
• Institutional ownership stands at 62.28%, with Vanguard increasing its stake by 32.2%. The company’s latest quarterly loss of $0.07 per share missed estimates of a $0.03 loss.

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) rose 7% on Friday . The company traded as high as $11.97 and last traded at $11.93. 1,607,827 shares traded hands during trading, a decline of 83% from the average session volume of 9,737,768 shares. The stock had previously closed at $11.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reiterated a "buy" rating and issued a $26.75 target price on shares of Uranium Energy in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Uranium Energy currently has an average rating of "Moderate Buy" and an average price target of $17.41.

Uranium Energy Price Performance

The company has a market capitalization of $6.12 billion, a PE ratio of -103.00 and a beta of 1.22. The company's 50 day simple moving average is $10.59 and its 200 day simple moving average is $12.97.

Uranium Energy (NYSEAMERICAN:UEC - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities analysts forecast that Uranium Energy Corp. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of UEC. Boundless Plain Holdings Ltd acquired a new stake in Uranium Energy during the fourth quarter worth about $2,085,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Uranium Energy in the 4th quarter valued at about $1,533,000. Vanguard Group Inc. grew its holdings in shares of Uranium Energy by 32.2% during the 4th quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company's stock worth $551,854,000 after purchasing an additional 11,521,597 shares during the period. Titan Global Capital Management USA LLC grew its holdings in shares of Uranium Energy by 7.1% during the 4th quarter. Titan Global Capital Management USA LLC now owns 2,875,810 shares of the basic materials company's stock worth $33,589,000 after purchasing an additional 191,765 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its position in Uranium Energy by 20.9% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,201,921 shares of the basic materials company's stock worth $29,726,000 after purchasing an additional 380,827 shares in the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Uranium Energy Company Profile

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company's core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy's approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company's primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source