Uranium Energy (NYSEAMERICAN:UEC) Trading Down 4.6% - Here's Why

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) fell 4.6% during mid-day trading on Friday . The company traded as low as $6.68 and last traded at $6.73. 7,606,297 shares were traded during mid-day trading, a decline of 16% from the average session volume of 9,027,200 shares. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UEC. Stifel Nicolaus set a $10.50 price objective on Uranium Energy in a research note on Wednesday, March 12th. BMO Capital Markets assumed coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target for the company. HC Wainwright restated a "buy" rating and set a $12.25 price objective on shares of Uranium Energy in a research report on Thursday, March 13th. Finally, Stifel Canada upgraded shares of Uranium Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $10.13.

Uranium Energy Stock Performance

The company has a market capitalization of $2.98 billion, a P/E ratio of -39.47 and a beta of 1.39. The company has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $6.46.

Hedge Funds Weigh In On Uranium Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Uranium Energy by 1.5% during 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 purchasing an additional 423,233 shares during the period. Vanguard Group Inc. boosted its stake in shares of Uranium Energy by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company's stock valued at $173,017,000 after purchasing an additional 631,929 shares in the last quarter. MMCAP International Inc. SPC grew its holdings in shares of Uranium Energy by 8.6% in the 1st 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. JPMorgan Chase & Co. grew its holdings in shares of Uranium Energy by 45.9% in the 4th quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company's stock worth $105,988,000 after purchasing an additional 4,982,949 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Uranium Energy during the 4th quarter worth about $100,773,000. 62.28% of the stock is currently owned by 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.