IsoEnergy (NYSEAMERICAN:ISOU) Stock Price Down 7.2% – Here’s Why

IsoEnergy Ltd. (NYSEAMERICAN:ISOU)’s share price dropped 7.2% during mid-day trading on Wednesday. The company traded as low as $9.66 and last traded at $9.6310. 46,849 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 135,297 shares. The stock had previously closed at $10.38.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada initiated coverage on shares of IsoEnergy in a report on Thursday, October 1st. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

IsoEnergy Stock Down 5.8%

The company has a 50 day moving average price of $10.42 and a 200-day moving average price of $10.66. The company has a market cap of $638.24 million, a price-to-earnings ratio of -57.52 and a beta of 1.87.

Hedge Funds Weigh In On IsoEnergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in shares of IsoEnergy during the first quarter valued at $9,644,000. Masters Capital Management LLC acquired a new stake in IsoEnergy in the first quarter valued at $7,378,000. Firetrail Investments PTY Ltd. acquired a new stake in IsoEnergy in the second quarter valued at $2,903,000. Acasta Partners UK LLP raised its position in IsoEnergy by 88.4% during the 2nd quarter. Acasta Partners UK LLP now owns 150,700 shares of the company’s stock worth $1,501,000 after purchasing an additional 70,700 shares during the last quarter. Finally, Bank of America Corp DE raised its position in IsoEnergy by 13.5% during the 1st quarter. Bank of America Corp DE now owns 112,090 shares of the company’s stock worth $1,181,000 after purchasing an additional 13,363 shares during the last quarter.

About IsoEnergy

IsoEnergy Ltd. is a mineral exploration and development company focused on the discovery and advancement of uranium resources. The company’s primary activities include acquiring, exploring and evaluating prospective uranium properties, with the goal of developing projects that may support future mining operations.

IsoEnergy’s principal asset is the Hurricane uranium deposit, located on the Larocque East property in Saskatchewan’s Athabasca Basin. The Athabasca Basin is one of the world’s leading uranium-producing regions and is known for high-grade uranium deposits.