DNB Asset Management AS Raises Stock Holdings in Uranium Energy Corp. $UEC

DNB Asset Management AS raised its position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 44.6% during the 4th quarter, Holdings Channel reports. The fund owned 255,091 shares of the basic materials company’s stock after purchasing an additional 78,644 shares during the period. DNB Asset Management AS’s holdings in Uranium Energy were worth $2,979,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Allworth Financial LP raised its holdings in shares of Uranium Energy by 177.6% during the 4th quarter. Allworth Financial LP now owns 4,714 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 3,016 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Uranium Energy during the 4th quarter worth approximately $2,190,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Uranium Energy during the 4th quarter worth approximately $376,000. Swiss Life Asset Management Ltd raised its holdings in shares of Uranium Energy by 9.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 21,828 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 1,915 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Uranium Energy during the 4th quarter worth approximately $74,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UEC has been the topic of several analyst reports. Roth Mkm set a $17.00 target price on Uranium Energy in a research report on Wednesday, March 11th. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 target price on shares of Uranium Energy in a research report on Wednesday, February 4th. HC Wainwright boosted their target price on Uranium Energy from $26.50 to $26.75 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, TD Securities cut their target price on Uranium Energy from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Uranium Energy currently has an average rating of “Moderate Buy” and a consensus target price of $17.66.

Uranium Energy Stock Performance

NYSEAMERICAN UEC opened at $11.91 on Wednesday. The company has a market cap of $5.84 billion, a P/E ratio of -99.25 and a beta of 1.17. The business’s 50 day moving average price is $14.05 and its 200-day moving average price is $14.26. Uranium Energy Corp. has a fifty-two week low of $5.03 and a fifty-two week high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last released its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $12.85 million. As a group, equities analysts predict that Uranium Energy Corp. will post -0.12 EPS for the current year.

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.