Uranium Energy (NYSEAMERICAN:UEC) Shares Climb 6.5% – Should You Buy?

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) were up 6.5% during trading on Tuesday. The company traded as high as $9.98 and last traded at $9.9550. Approximately 4,386,071 shares traded hands during trading, a decline of 55% from the average session volume of 9,745,926 shares. The stock had previously closed at $9.35.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Uranium Energy in a report on Thursday, September 3rd. They issued a “hold” rating and a $11.50 price objective for the company. Royal Bank Of Canada began coverage on Uranium Energy in a research report on Friday, October 2nd. They set a “sector perform” rating and a $10.00 target price on the stock. Zacks Research lowered Uranium Energy from a “hold” rating to a “strong sell” rating in a report on Monday. National Bank Financial reduced their price target on Uranium Energy from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, September 30th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.75.

Uranium Energy Trading Down 6.3%

The company’s fifty day simple moving average is $10.84 and its 200 day simple moving average is $11.94. The stock has a market capitalization of $4.69 billion, a P/E ratio of -33.82 and a beta of 1.38.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings results on Tuesday, September 29th. The basic materials company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $17.05 million for the quarter, compared to analysts’ expectations of $9.00 million. Equities research analysts predict that Uranium Energy Corp. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On Uranium Energy

Institutional investors have recently added to or reduced their stakes in the business. Segra Capital Management LLC purchased a new stake in shares of Uranium Energy in the 3rd quarter valued at about $5,198,000. Sequoia Financial Advisors LLC increased its position in shares of Uranium Energy by 6.0% in the second quarter. Sequoia Financial Advisors LLC now owns 18,673 shares of the basic materials company’s stock worth $199,000 after purchasing an additional 1,050 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Uranium Energy by 28.2% in the second quarter. Integrated Wealth Concepts LLC now owns 66,655 shares of the basic materials company’s stock worth $711,000 after purchasing an additional 14,679 shares during the last quarter. NewEdge Advisors LLC raised its stake in Uranium Energy by 49.9% in the second quarter. NewEdge Advisors LLC now owns 30,133 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 10,037 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Uranium Energy by 117.8% in the second quarter. Squarepoint Ops LLC now owns 28,589 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 15,464 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC’s U.S. assets include ISR projects, processing facilities and associated resource properties.