Cibc World Market Inc. Takes $671,000 Position in Uranium Energy Corp. $UEC

Cibc World Market Inc. acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) in the second quarter, Holdings Channel.com reports. The firm acquired 62,935 shares of the basic materials company’s stock, valued at approximately $671,000.

Several other hedge funds also recently bought and sold shares of UEC. Price T Rowe Associates Inc. MD grew its position in shares of Uranium Energy by 11.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock valued at $774,995,000 after purchasing an additional 7,013,279 shares in the last quarter. Vanguard Group Inc. grew 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 worth $551,854,000 after buying an additional 11,521,597 shares in the last quarter. BlackRock Inc. bought a new position in Uranium Energy in the 2nd quarter worth about $432,676,000. State Street Corp increased its stake in Uranium Energy by 9.5% in the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock worth $156,717,000 after acquiring an additional 2,000,516 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Uranium Energy by 25.3% in the 4th quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company’s stock valued at $229,695,000 after acquiring an additional 3,969,046 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UEC. HC Wainwright reiterated a “buy” rating on shares of Uranium Energy in a research report on Wednesday. The Goldman Sachs Group restated a “buy” rating and issued a $16.00 price objective on shares of Uranium Energy in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.41.

Uranium Energy Stock Up 3.7%

UEC opened at $13.62 on Friday. The business’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $12.86. Uranium Energy Corp. has a 52 week low of $8.90 and a 52 week high of $20.34. The stock has a market cap of $6.74 billion, a PE ratio of -113.50 and a beta of 1.22.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results 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). As a group, equities analysts anticipate that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Uranium Energy 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.