The Goldman Sachs Group Upgrades Uranium Energy (NYSEAMERICAN:UEC) to Strong-Buy

Key Points

• Uranium Energy has been upgraded to a "strong-buy" rating by The Goldman Sachs Group, indicating strong investor confidence.
• Several research analysts have given outperform and buy ratings, with a consensus price target set at $10.61.
• Insider trading activity shows Director David Kong sold 50,800 shares, reducing his ownership by 21.80%, highlighting potential shifts in insider sentiment.

The Goldman Sachs Group upgraded shares of Uranium Energy (NYSEAMERICAN:UEC - Free Report) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. BMO Capital Markets began coverage on shares of Uranium Energy in a research report on Tuesday, June 3rd. They issued an "outperform" rating and a $7.75 price target on the stock. HC Wainwright increased their price target on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Uranium Energy presently has an average rating of "Buy" and an average price target of $10.91.

Uranium Energy Stock Performance

Shares of NYSEAMERICAN:UEC traded up $0.47 during trading on Tuesday, reaching $10.73. 12,903,579 shares of the stock traded hands, compared to its average volume of 13,179,408. Uranium Energy has a 52-week low of $3.85 and a 52-week high of $10.88. The stock has a 50-day moving average of $7.73 and a two-hundred day moving average of $6.44. The stock has a market cap of $4.77 billion, a P/E ratio of -63.11 and a beta of 1.44.

Insiders Place Their Bets

In other news, Director David Kong sold 50,800 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the sale, the director owned 182,237 shares in the company, valued at approximately $1,753,119.94. The trade was a 21.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Blair William & Co. IL lifted its stake in shares of Uranium Energy by 1.1% in the second quarter. Blair William & Co. IL now owns 160,200 shares of the basic materials company's stock worth $1,089,000 after buying an additional 1,700 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Uranium Energy by 4.2% in the second quarter. Ameritas Investment Partners Inc. now owns 43,475 shares of the basic materials company's stock worth $296,000 after buying an additional 1,742 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Uranium Energy by 13.7% in the second quarter. SBI Securities Co. Ltd. now owns 15,629 shares of the basic materials company's stock worth $106,000 after buying an additional 1,878 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Uranium Energy by 1.6% in the first quarter. Arizona State Retirement System now owns 121,359 shares of the basic materials company's stock worth $580,000 after buying an additional 1,962 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Uranium Energy by 43.5% in the first quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company's stock worth $36,000 after buying an additional 2,364 shares in the last quarter. Institutional investors own 62.28% of the company's stock.

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.