Uranium Energy Corp. (NYSEAMERICAN:UEC – Get Free Report)’s share price dropped 8.1% on Tuesday . The company traded as low as $12.40 and last traded at $12.1270. Approximately 1,323,229 shares changed hands during trading, a decline of 87% from the average daily volume of 9,896,203 shares. The stock had previously closed at $13.20.
Wall Street Analyst Weigh In
UEC has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday. Roth Mkm set a $17.00 target price on Uranium Energy in a report on Wednesday, March 11th. The Goldman Sachs Group reissued a “buy” rating and set a $18.00 price target on shares of Uranium Energy in a report on Wednesday, February 4th. Finally, TD Securities dropped their price objective on Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.66.
Read Our Latest Stock Analysis on UEC
Uranium Energy Stock Performance
Uranium Energy (NYSEAMERICAN:UEC – Get Free Report) last announced its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $12.85 million. As a group, analysts forecast that Uranium Energy Corp. will post -0.12 EPS for the current fiscal year.
Institutional Investors Weigh In On Uranium Energy
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Uranium Energy by 34.5% in the third quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock worth $476,588,000 after acquiring an additional 9,159,024 shares during the period. Pinnacle Associates Ltd. raised its stake in shares of Uranium Energy by 38.2% in the third quarter. Pinnacle Associates Ltd. now owns 1,463,561 shares of the basic materials company’s stock worth $19,524,000 after buying an additional 404,799 shares during the period. ARP Global Capital Ltd bought a new position in shares of Uranium Energy in the fourth quarter worth about $1,150,000. Nordea Investment Management AB bought a new position in shares of Uranium Energy in the fourth quarter worth about $4,076,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Uranium Energy in the fourth quarter worth about $22,260,000. 62.28% of the stock is owned by hedge funds and other institutional investors.
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.
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