Encompass Capital Advisors LLC Takes $40.50 Million Position in Uranium Energy Corp. $UEC

Encompass Capital Advisors LLC acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,000,000 shares of the basic materials company’s stock, valued at approximately $40,500,000. Uranium Energy comprises 1.2% of Encompass Capital Advisors LLC’s holdings, making the stock its 21st biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Independent Wealth Network Inc. grew its holdings in Uranium Energy by 2.0% during the 4th quarter. Independent Wealth Network Inc. now owns 30,514 shares of the basic materials company’s stock worth $356,000 after acquiring an additional 597 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Uranium Energy by 2.3% during the fourth quarter. Clear Creek Financial Management LLC now owns 28,949 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 655 shares during the last quarter. Balboa Wealth Partners raised its stake in shares of Uranium Energy by 2.9% during the first quarter. Balboa Wealth Partners now owns 27,820 shares of the basic materials company’s stock valued at $376,000 after acquiring an additional 775 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Uranium Energy by 5.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,778 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 778 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Uranium Energy by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 58,791 shares of the basic materials company’s stock worth $687,000 after purchasing an additional 809 shares during the period. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UEC. HC Wainwright restated a “buy” rating and issued a $26.75 price objective on shares of Uranium Energy in a report on Wednesday, June 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.41.

Uranium Energy Stock Performance

Shares of UEC stock opened at $9.91 on Tuesday. The company has a market cap of $4.90 billion, a P/E ratio of -82.58 and a beta of 1.18. The stock has a 50 day simple moving average of $11.36 and a two-hundred day simple moving average of $13.83. Uranium Energy Corp. has a fifty-two week low of $7.80 and a fifty-two week high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). On average, research analysts predict 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.