Uranium Energy Corp. (NYSEAMERICAN:UEC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) have received an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.0278.

Several research analysts recently commented on UEC shares. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Thursday, December 11th. National Bankshares upped their target price on shares of Uranium Energy from $15.50 to $16.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Zacks Research raised shares of Uranium Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $18.00 price target on shares of Uranium Energy in a report on Wednesday.

Uranium Energy Stock Performance

Shares of NYSEAMERICAN UEC opened at $15.04 on Friday. Uranium Energy has a fifty-two week low of $3.85 and a fifty-two week high of $20.34. The company has a market cap of $7.27 billion, a price-to-earnings ratio of -125.33 and a beta of 1.22. The business’s 50 day moving average price is $14.71 and its 200-day moving average price is $12.91.

Hedge Funds Weigh In On Uranium Energy

Several institutional investors have recently made changes to their positions in UEC. IFP Advisors Inc lifted its stake in Uranium Energy by 732.8% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 3,503 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Uranium Energy in the 3rd quarter worth approximately $33,000. Operose Advisors LLC purchased a new stake in shares of Uranium Energy in the 2nd quarter worth approximately $34,000. Sound Income Strategies LLC boosted its stake in shares of Uranium Energy by 159.1% during the fourth quarter. Sound Income Strategies LLC now owns 3,094 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Strategic Advocates LLC purchased a new position in Uranium Energy during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

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.