MGO One Seven LLC Purchases New Position in Uranium Energy Corp. $UEC

MGO One Seven LLC acquired a new stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,651 shares of the basic materials company’s stock, valued at approximately $93,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MMCAP International Inc. SPC raised its position in Uranium Energy by 8.6% during the first quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company’s stock valued at $94,244,000 after purchasing an additional 1,559,173 shares during the period. Victory Capital Management Inc. raised its position in Uranium Energy by 120.0% during the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company’s stock valued at $28,350,000 after purchasing an additional 3,235,394 shares during the period. Encompass Capital Advisors LLC raised its position in Uranium Energy by 255.1% during the first quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company’s stock valued at $20,188,000 after purchasing an additional 3,033,974 shares during the period. Northern Trust Corp raised its position in Uranium Energy by 3.2% during the first quarter. Northern Trust Corp now owns 4,156,467 shares of the basic materials company’s stock valued at $19,868,000 after purchasing an additional 128,329 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Uranium Energy by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,420,671 shares of the basic materials company’s stock valued at $16,351,000 after purchasing an additional 11,542 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UEC has been the topic of a number of recent research reports. Zacks Research upgraded Uranium Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. Stifel Nicolaus initiated coverage on Uranium Energy in a research report on Monday, October 6th. They set a “buy” rating and a $10.50 price objective on the stock. Roth Capital upped their price objective on Uranium Energy from $11.50 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. The Goldman Sachs Group increased their price target on Uranium Energy from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Uranium Energy has a consensus rating of “Buy” and an average price target of $13.80.

Insider Buying and Selling

In other Uranium Energy news, Director David Kong sold 50,800 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the transaction, the director directly owned 182,237 shares in the company, valued at $1,753,119.94. This trade represents a 21.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Uranium Energy Stock Up 1.7%

UEC opened at $15.12 on Tuesday. The stock’s fifty day moving average is $12.40 and its two-hundred day moving average is $8.50. The company has a market capitalization of $7.31 billion, a P/E ratio of -88.94 and a beta of 1.40. Uranium Energy Corp. has a 52 week low of $3.85 and a 52 week high of $17.80.

About Uranium Energy

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.