Uranium Energy Corp. (NYSEAMERICAN:UEC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) have been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.4062.

A number of brokerages have recently issued reports on UEC. HC Wainwright reiterated a “buy” rating and issued a $26.75 price target on shares of Uranium Energy in a report on Wednesday, June 10th. The Goldman Sachs Group reissued a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a report on Tuesday, June 9th.

Uranium Energy Stock Performance

NYSEAMERICAN:UEC opened at $9.60 on Friday. The stock has a fifty day moving average price of $11.10 and a two-hundred day moving average price of $13.69. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -80.00 and a beta of 1.18. Uranium Energy has a 1 year low of $7.80 and a 1 year high of $20.34.

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

Institutional Investors Weigh In On Uranium Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Uranium Energy by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock worth $774,995,000 after acquiring an additional 7,013,279 shares during the period. Vanguard Group Inc. raised its holdings in Uranium Energy by 32.2% during the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock worth $551,854,000 after purchasing an additional 11,521,597 shares during the last quarter. State Street Corp boosted its position in Uranium Energy by 9.5% during the second quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock worth $156,717,000 after purchasing an additional 2,000,516 shares in the last quarter. Van ECK Associates Corp boosted its position 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 worth $229,695,000 after purchasing an additional 3,969,046 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in Uranium Energy by 16.3% during the fourth quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company’s stock worth $203,959,000 after purchasing an additional 2,453,744 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

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.