Uranium Energy (NYSEAMERICAN:UEC) Hits New 1-Year High – Still a Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) reached a new 52-week high on Thursday . The company traded as high as $17.83 and last traded at $17.8030, with a volume of 3633288 shares. The stock had previously closed at $17.19.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UEC. Stifel Nicolaus initiated coverage on shares of Uranium Energy in a research report on Monday, October 6th. They set a “buy” rating and a $10.50 target price on the stock. Roth Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of Uranium Energy in a report on Thursday, December 11th. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research note on Friday, October 3rd. Canaccord Genuity Group set a $17.50 price target on Uranium Energy and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, National Bankshares raised their price objective on Uranium Energy from $15.50 to $16.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $14.92.

Uranium Energy Stock Performance

The firm has a market cap of $8.64 billion, a P/E ratio of -148.92 and a beta of 1.23. The firm’s fifty day moving average is $12.99 and its 200 day moving average is $11.83.

Institutional Trading of Uranium Energy

Several hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Uranium Energy by 732.8% in the second quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,503 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in Uranium Energy in the 3rd quarter valued at about $33,000. Operose Advisors LLC acquired a new position in shares of Uranium Energy during the 2nd quarter worth approximately $34,000. Strategic Advocates LLC bought a new position in shares of Uranium Energy during the third quarter worth approximately $40,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Uranium Energy by 31.0% in the third quarter. GPS Wealth Strategies Group LLC now owns 4,654 shares of the basic materials company’s stock valued at $62,000 after buying an additional 1,100 shares in the last quarter. 62.28% of the stock is 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.