The Manufacturers Life Insurance Company Acquires New Stake in Uranium Energy Corp. $UEC

The Manufacturers Life Insurance Company acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 239,712 shares of the basic materials company’s stock, valued at approximately $2,555,000.

Several other hedge funds also recently made changes to their positions in the company. PenderFund Capital Management Ltd. acquired a new stake in shares of Uranium Energy in the 4th quarter worth $39,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Uranium Energy during the fourth quarter worth about $39,000. Longview Financial Advisors Inc. purchased a new position in Uranium Energy during the first quarter worth about $52,000. EFG International AG purchased a new position in Uranium Energy during the fourth quarter worth about $47,000. Finally, Western Wealth Management LLC purchased a new position in Uranium Energy during the first quarter worth about $60,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Stock Performance

Uranium Energy stock opened at $11.62 on Thursday. The company has a market cap of $5.75 billion, a P/E ratio of -96.83 and a beta of 1.23. Uranium Energy Corp. has a one year low of $8.90 and a one year high of $20.34. The business has a fifty day moving average of $10.78 and a two-hundred day moving average of $12.74.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). Sell-side analysts predict that Uranium Energy Corp. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UEC shares. HC Wainwright reaffirmed a “buy” rating on shares of Uranium Energy in a report on Wednesday, August 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research report on Tuesday, June 9th. One equities 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

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.