Hsbc Holdings PLC Has $4.95 Million Position in Uranium Energy Corp. $UEC

Hsbc Holdings PLC grew its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 50.9% during the 1st quarter, HoldingsChannel reports. The fund owned 369,005 shares of the basic materials company’s stock after acquiring an additional 124,440 shares during the period. Hsbc Holdings PLC’s holdings in Uranium Energy were worth $4,948,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of UEC. AQR Capital Management LLC raised its holdings in shares of Uranium Energy by 56.6% during the first quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock worth $1,064,000 after acquiring an additional 80,464 shares in the last quarter. Caxton Associates LLP acquired a new stake in Uranium Energy during the first quarter valued at $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Uranium Energy by 44.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company’s stock valued at $6,537,000 after purchasing an additional 423,994 shares in the last quarter. Focus Partners Wealth grew its stake in Uranium Energy by 114.0% in the first quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 19,407 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Uranium Energy by 24.2% in the 2nd quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company’s stock worth $549,000 after purchasing an additional 15,744 shares during the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UEC has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $26.75 price target on shares of Uranium Energy in a research note on Wednesday, June 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Stock Performance

NYSEAMERICAN:UEC opened at $9.51 on Friday. The firm’s 50-day moving average is $11.43 and its 200-day moving average is $13.86. The company has a market cap of $4.71 billion, a price-to-earnings ratio of -79.25 and a beta of 1.18. Uranium Energy Corp. has a 52-week low of $7.80 and a 52-week high of $20.34.

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

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.