Uranium Energy Corp. $UEC Position Lifted by Royal Bank of Canada

Royal Bank of Canada raised its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 349,582 shares of the basic materials company’s stock after acquiring an additional 71,884 shares during the quarter. Royal Bank of Canada’s holdings in Uranium Energy were worth $4,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Uranium Energy during the fourth quarter worth about $39,000. PenderFund Capital Management Ltd. bought a new stake in Uranium Energy in the fourth quarter valued at about $39,000. EFG International AG bought a new stake in Uranium Energy in the fourth quarter valued at about $47,000. Longview Financial Advisors Inc. acquired a new stake in Uranium Energy during the first quarter valued at approximately $52,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Uranium Energy during the fourth quarter valued at approximately $53,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $26.75 target price on shares of Uranium Energy in a research report on Wednesday, June 10th. The Goldman Sachs Group restated a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

Uranium Energy Stock Performance

Uranium Energy stock opened at $11.19 on Friday. The company has a 50-day simple moving average of $10.58 and a 200-day simple moving average of $13.23. The firm has a market capitalization of $5.54 billion, a P/E ratio of -93.25 and a beta of 1.22. Uranium Energy Corp. has a one year low of $8.90 and a one year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, sell-side analysts forecast that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

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.