Kercheville Advisors LLC Sells 60,350 Shares of Uranium Energy Corp. $UEC

Kercheville Advisors LLC cut its position in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 49.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 60,550 shares of the basic materials company’s stock after selling 60,350 shares during the period. Kercheville Advisors LLC’s holdings in Uranium Energy were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in UEC. Vanguard Group Inc. increased its holdings in Uranium Energy by 32.2% in the 4th quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock worth $551,854,000 after acquiring an additional 11,521,597 shares during the last quarter. Norges Bank bought a new stake in Uranium Energy in the 4th quarter valued at about $118,019,000. Price T Rowe Associates Inc. MD lifted its holdings in Uranium Energy by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock valued at $774,995,000 after purchasing an additional 7,013,279 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Uranium Energy by 25.3% during the fourth quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company’s stock valued at $229,695,000 after purchasing an additional 3,969,046 shares during the last quarter. Finally, State Street Corp boosted its position in Uranium Energy by 18.5% during the fourth quarter. State Street Corp now owns 22,521,502 shares of the basic materials company’s stock worth $263,051,000 after purchasing an additional 3,509,848 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Stock Down 1.1%

Shares of NYSEAMERICAN UEC opened at $11.34 on Wednesday. The company has a market cap of $5.61 billion, a P/E ratio of -94.50 and a beta of 1.12. Uranium Energy Corp. has a 52 week low of $5.90 and a 52 week high of $20.34. The business has a 50-day simple moving average of $13.58 and a two-hundred day simple moving average of $14.27.

Analysts Set New Price Targets

UEC has been the subject of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $16.00 target price on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright restated a “buy” rating and set a $26.75 price target on shares of Uranium Energy in a research note on Wednesday, June 10th. Roth Mkm set a $17.00 price objective on shares of Uranium Energy in a report on Wednesday, March 11th. Finally, TD Securities reduced their price objective on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.41.

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.