Uranium Energy (NYSEAMERICAN:UEC) Trading 7.9% Higher – Should You Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price was up 7.9% during mid-day trading on Tuesday . The company traded as high as $14.75 and last traded at $14.6340. Approximately 6,653,411 shares traded hands during trading, a decline of 38% from the average daily volume of 10,696,771 shares. The stock had previously closed at $13.56.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UEC shares. National Bank Financial boosted their price target on shares of Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Roth Mkm reissued a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research note on Thursday, December 11th. TD Securities reduced their price target on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday. HC Wainwright lifted their price objective on Uranium Energy from $26.50 to $26.75 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $18.00 target price on shares of Uranium Energy in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.53.

Uranium Energy Trading Down 2.3%

The stock’s fifty day simple moving average is $16.02 and its 200 day simple moving average is $13.93. The company has a market cap of $6.84 billion, a price-to-earnings ratio of -117.92 and a beta of 1.21.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $12.85 million. On average, analysts predict that Uranium Energy Corp. will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its position in Uranium Energy by 56.6% during the first quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock worth $1,064,000 after purchasing an additional 80,464 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Uranium Energy during the 1st quarter worth approximately $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Uranium Energy by 44.9% during the 1st 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 valued at $6,537,000 after buying an additional 423,994 shares during the period. Focus Partners Wealth raised its position in shares of Uranium Energy by 114.0% during the 1st quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock valued at $174,000 after buying an additional 19,407 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Uranium Energy by 224.5% in the second quarter. Bank of Montreal Can now owns 145,145 shares of the basic materials company’s stock valued at $987,000 after acquiring an additional 100,421 shares during the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Company Profile

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.