Uranium Energy (NYSEAMERICAN:UEC) Shares Down 6.2% – Time to Sell?

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price fell 6.2% during mid-day trading on Tuesday. The stock traded as low as $8.27 and last traded at $8.2850. Approximately 6,171,459 shares changed hands during trading, a decline of 37% from the average session volume of 9,758,836 shares. The stock had previously closed at $8.83.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UEC shares. HC Wainwright reiterated a “buy” rating and set a $26.75 target price on shares of Uranium Energy in a research note on Wednesday, September 30th. Royal Bank Of Canada began coverage on shares of Uranium Energy in a report on Friday, October 2nd. They set a “sector perform” rating and a $10.00 price objective for the company. National Bank Financial decreased their price objective on shares of Uranium Energy from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Jefferies Financial Group started coverage on shares of Uranium Energy in a research note on Thursday, September 3rd. They issued a “hold” rating and a $11.50 target price on the stock. Finally, Zacks Research cut shares of Uranium Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Uranium Energy Stock Down 6.6%

The stock has a market cap of $3.82 billion, a P/E ratio of -27.50 and a beta of 1.38. The business’s 50-day simple moving average is $10.69 and its two-hundred day simple moving average is $11.79.

Uranium Energy (NYSEAMERICAN:UEC) last posted its 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. Analysts anticipate that Uranium Energy Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Uranium Energy during the second quarter valued at $432,676,000. Van ECK Associates Corp lifted its stake 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 worth $309,507,000 after purchasing an additional 5,191,738 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Uranium Energy in the 1st quarter worth about $40,500,000. Wellington Management Group LLP boosted its holdings in shares of Uranium Energy by 62.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,310,825 shares of the basic materials company’s stock worth $56,613,000 after purchasing an additional 2,035,586 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Uranium Energy in the 2nd quarter worth about $19,170,000. 62.28% of the stock is owned by institutional investors.

Uranium Energy Company Profile

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.