Uranium Energy (NYSEAMERICAN:UEC) Shares Up 8.6% – Here’s Why

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) rose 8.6% on Thursday . The company traded as high as $13.80 and last traded at $14.0310. Approximately 3,951,790 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 12,127,254 shares. The stock had previously closed at $12.92.

Wall Street Analyst Weigh In

A number of research firms have issued reports on UEC. The Goldman Sachs Group boosted their price target on Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Stifel Nicolaus initiated coverage on shares of Uranium Energy in a research report on Monday, October 6th. They set a “buy” rating and a $10.50 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 target price (up from $7.75) on shares of Uranium Energy in a report on Thursday, September 25th. TD Securities boosted their price objective on shares of Uranium Energy from $8.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Finally, Zacks Research raised Uranium Energy from a “strong sell” rating to a “hold” rating in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $14.19.

Uranium Energy Stock Down 8.7%

The stock has a market capitalization of $6.25 billion, a PE ratio of -107.67 and a beta of 1.35. The stock’s 50 day moving average price is $13.33 and its 200-day moving average price is $10.59.

Institutional Trading of Uranium Energy

Several institutional investors have recently made changes to their positions in UEC. Swiss Life Asset Management Ltd lifted its holdings in Uranium Energy by 70.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 19,913 shares of the basic materials company’s stock worth $266,000 after purchasing an additional 8,217 shares in the last quarter. Strategic Advocates LLC purchased a new stake in Uranium Energy during the 3rd quarter valued at approximately $40,000. CIBC Private Wealth Group LLC raised its position in shares of Uranium Energy by 711.2% during the third quarter. CIBC Private Wealth Group LLC now owns 11,357 shares of the basic materials company’s stock valued at $152,000 after buying an additional 9,957 shares during the last quarter. Danske Bank A S purchased a new position in shares of Uranium Energy in the third quarter worth $137,000. Finally, Fulcrum Asset Management LLP bought a new position in shares of Uranium Energy during the third quarter worth $67,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.