Uranium Energy (NYSEAMERICAN:UEC) Trading Up 5.8% - Here's Why

Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shares shot up 5.8% on Wednesday . The company traded as high as $6.34 and last traded at $6.55. 1,521,461 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 9,777,588 shares. The stock had previously closed at $6.19.

Wall Street Analyst Weigh In

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

Uranium Energy Stock Up 0.3%

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -52.08 and a beta of 1.88. The stock's fifty day moving average is $5.48 and its two-hundred day moving average is $6.51.

Hedge Funds Weigh In On Uranium Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in 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 during the last quarter. Focus Partners Wealth increased its holdings in Uranium Energy by 114.0% during the first quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company's stock worth $174,000 after buying an additional 19,407 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in 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 buying an additional 423,994 shares during the last quarter. Caxton Associates LLP acquired a new position in Uranium Energy during the first quarter worth $173,000. Finally, Teza Capital Management LLC acquired a new position in Uranium Energy during the first quarter worth $49,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.