Uranium Energy (NYSEAMERICAN:UEC) Stock Price Down 4.7% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares were down 4.7% during trading on Friday . The stock traded as low as $10.51 and last traded at $10.5050. Approximately 4,237,950 shares traded hands during trading, a decline of 56% from the average daily volume of 9,716,578 shares. The stock had previously closed at $11.02.

Analyst Ratings Changes

A number of analysts have commented on the company. HC Wainwright reissued a “buy” rating on shares of Uranium Energy in a report on Wednesday, August 26th. Jefferies Financial Group started coverage on Uranium Energy in a research report on Thursday, September 3rd. They set a “hold” rating and a $11.50 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Uranium Energy in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.75.

Uranium Energy Trading Down 4.3%

The stock has a market capitalization of $5.22 billion, a PE ratio of -87.79 and a beta of 1.23. The stock has a 50 day moving average price of $10.88 and a 200-day moving average price of $12.56.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Research analysts forecast that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Uranium Energy

Several hedge funds and other institutional investors have recently made changes to their positions in UEC. Price T Rowe Associates Inc. MD lifted its stake in shares of Uranium Energy by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock worth $774,995,000 after purchasing an additional 7,013,279 shares during the period. BlackRock Inc. bought a new stake in Uranium Energy during the second quarter valued at approximately $432,676,000. Van ECK Associates Corp increased its holdings in Uranium Energy by 21.8% during the second quarter. Van ECK Associates Corp now owns 29,034,465 shares of the basic materials company’s stock valued at $309,507,000 after buying an additional 5,191,738 shares during the last quarter. State Street Corp increased its holdings in Uranium Energy by 9.5% during the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock valued at $156,717,000 after buying an additional 2,000,516 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in Uranium Energy by 16.3% in the fourth quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company’s stock worth $203,959,000 after acquiring an additional 2,453,744 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp. (NYSE American: UEC) is a uranium mining and nuclear fuel company focused on the exploration, development and production of uranium in the United States and Canada. Its activities support the supply of uranium used to generate nuclear power.

The company’s U.S. portfolio includes in-situ recovery uranium projects and processing infrastructure in South Texas and Wyoming. Its South Texas operations include the Hobson Processing Facility and nearby well-field projects, while its Wyoming assets include the Irigaray Central Processing Plant and the Christensen Ranch project.