Phoenix Financial Ltd. Buys New Stake in Uranium Energy Corp. $UEC

Phoenix Financial Ltd. acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the second quarter, HoldingsChannel reports. The firm acquired 14,565 shares of the basic materials company’s stock, valued at approximately $99,000.

A number of other hedge funds have also made changes to their positions in UEC. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Uranium Energy by 101.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,196 shares of the basic materials company’s stock valued at $111,000 after acquiring an additional 11,688 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Uranium Energy by 7.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 172,735 shares of the basic materials company’s stock valued at $826,000 after purchasing an additional 11,372 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Uranium Energy by 226.0% in the first quarter. Perigon Wealth Management LLC now owns 46,454 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 32,204 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Uranium Energy in the 1st quarter valued at $36,000. Finally, Joel Isaacson & Co. LLC purchased a new position in shares of Uranium Energy in the 1st quarter valued at $118,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 26th. TD Securities raised their price target on Uranium Energy from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Zacks Research downgraded Uranium Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Stifel Nicolaus began coverage on Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 price target on the stock. Finally, BMO Capital Markets restated a “market perform” rating and set a $14.00 target price (up from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.19.

Uranium Energy Trading Down 4.1%

Shares of UEC stock opened at $13.32 on Friday. The business’s 50 day moving average is $12.60 and its two-hundred day moving average is $8.64. Uranium Energy Corp. has a twelve month low of $3.85 and a twelve month high of $17.80. The company has a market capitalization of $6.44 billion, a P/E ratio of -78.35 and a beta of 1.40.

Insiders Place Their Bets

In related news, Director David Kong sold 50,800 shares of Uranium Energy stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value 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 filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Uranium Energy Profile

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.