Uranium Energy (NYSEAMERICAN:UEC) Trading Up 5.8% – Here’s Why

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on UEC. Stifel Canada raised Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $12.25 target price on shares of Uranium Energy in a research note on Thursday, March 13th. Stifel Nicolaus set a $10.50 target price on Uranium Energy in a research report on Wednesday, March 12th. Finally, BMO Capital Markets started coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They issued an “outperform” rating and a $7.75 target price on the stock. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $10.13.

Uranium Energy Trading Down 0.8%

The company has a market cap of $2.64 billion, a price-to-earnings ratio of -51.92 and a beta of 1.88. The stock has a 50 day moving average price of $5.44 and a two-hundred day moving average price of $6.51.

Institutional Trading of Uranium Energy

A number of institutional investors and hedge funds have recently modified their holdings of UEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 acquiring an additional 423,233 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Uranium Energy by 2.5% during 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 position 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 valued at $94,244,000 after purchasing an additional 1,559,173 shares during the period. JPMorgan Chase & Co. increased its stake in Uranium Energy by 45.9% during 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 in the last quarter. Finally, Norges Bank bought a new stake in Uranium Energy during the 4th quarter worth approximately $100,773,000. 62.28% of the stock is 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.