Wellington Management Group LLP lifted its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC – Free Report) by 62.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,310,825 shares of the basic materials company’s stock after buying an additional 2,035,586 shares during the quarter. Wellington Management Group LLP owned approximately 1.07% of Uranium Energy worth $56,613,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in UEC. Empowered Funds LLC acquired a new stake in Uranium Energy in the second quarter valued at approximately $397,000. United Capital Financial Advisors LLC acquired a new position in Uranium Energy during the 2nd quarter worth approximately $142,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Uranium Energy in the 2nd quarter valued at approximately $35,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Uranium Energy in the 2nd quarter valued at approximately $94,000. Finally, Palo Duro Investment Partners LP acquired a new stake in shares of Uranium Energy in the 2nd quarter valued at $438,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright restated a “buy” rating on shares of Uranium Energy in a research note on Wednesday, August 26th. Finally, Jefferies Financial Group began coverage on Uranium Energy in a report on Thursday. They set a “hold” rating and a $11.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.75.
Uranium Energy Stock Down 0.9%
Shares of Uranium Energy stock opened at $11.51 on Friday. Uranium Energy Corp. has a 52 week low of $8.90 and a 52 week high of $20.34. The firm’s 50 day moving average is $10.80 and its two-hundred day moving average is $12.71. The firm has a market capitalization of $5.70 billion, a P/E ratio of -95.92 and a beta of 1.23.
Uranium Energy (NYSEAMERICAN:UEC – Get Free Report) last issued its quarterly earnings data on Tuesday, June 9th. The basic materials company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). As a group, research analysts expect that Uranium Energy Corp. will post -0.15 earnings per share for the current fiscal year.
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.
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