Uranium Energy (NYSEAMERICAN:UEC) Trading Up 8.4% – Should You Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares were up 8.4% on Friday . The company traded as high as $12.26 and last traded at $12.6560. Approximately 557,377 shares were traded during trading, a decline of 95% from the average daily volume of 10,608,778 shares. The stock had previously closed at $11.68.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Uranium Energy in a research note on Monday, October 6th. They issued a “buy” rating and a $10.50 target price on the stock. Canaccord Genuity Group set a $17.50 price target on Uranium Energy and gave the company a “buy” rating in a report on Wednesday, September 24th. Roth Capital reissued a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Thursday, December 11th. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Friday, October 3rd. Finally, National Bankshares raised their target price on Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $14.92.

Uranium Energy Price Performance

The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of -107.13 and a beta of 1.23. The business has a fifty day moving average of $12.66 and a 200 day moving average of $11.16.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in Uranium Energy in the 2nd quarter valued at about $105,058,000. Vanguard Group Inc. boosted its stake in Uranium Energy by 34.5% during the third quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock worth $476,588,000 after buying an additional 9,159,024 shares during the period. Caxton Associates LLP increased its position in shares of Uranium Energy by 11,233.4% during the second quarter. Caxton Associates LLP now owns 4,093,058 shares of the basic materials company’s stock valued at $27,833,000 after acquiring an additional 4,056,943 shares during the last quarter. Encompass Capital Advisors LLC raised its stake in shares of Uranium Energy by 255.1% in the 1st quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company’s stock valued at $20,188,000 after acquiring an additional 3,033,974 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Uranium Energy by 9.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock valued at $354,847,000 after acquiring an additional 2,393,683 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

About Uranium Energy

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.