Uranium Energy (NYSEAMERICAN:UEC) Trading Up 7% – Should You Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) rose 7% during mid-day trading on Friday . The stock traded as high as $11.97 and last traded at $11.93. Approximately 1,607,827 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 9,737,768 shares. The stock had previously closed at $11.15.

Analyst Ratings Changes

UEC has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, June 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Uranium Energy currently has an average rating of “Moderate Buy” and an average target price of $17.41.

Uranium Energy Stock Up 10.9%

The company has a 50 day simple moving average of $10.59 and a 200-day simple moving average of $12.97. The stock has a market cap of $6.12 billion, a price-to-earnings ratio of -103.00 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC) last announced its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities research analysts expect that Uranium Energy Corp. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Boundless Plain Holdings Ltd acquired a new stake in shares of Uranium Energy in the fourth quarter worth $2,085,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Uranium Energy during the fourth quarter valued at $1,533,000. Vanguard Group Inc. raised its position in Uranium Energy by 32.2% during the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock valued at $551,854,000 after buying an additional 11,521,597 shares during the period. Titan Global Capital Management USA LLC lifted its stake in Uranium Energy by 7.1% in the 4th quarter. Titan Global Capital Management USA LLC now owns 2,875,810 shares of the basic materials company’s stock worth $33,589,000 after acquiring an additional 191,765 shares in the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Uranium Energy by 20.9% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 2,201,921 shares of the basic materials company’s stock worth $29,726,000 after acquiring an additional 380,827 shares in 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.