Uranium Energy’s (UEC) “Buy” Rating Reaffirmed at HC Wainwright

Uranium Energy (NYSEAMERICAN:UEC)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $26.75 price target on the basic materials company’s stock. HC Wainwright’s price objective points to a potential upside of 124.60% from the stock’s previous close.

Several other equities research analysts have also issued reports on UEC. TD Securities dropped their target price on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 target price on shares of Uranium Energy in a research note on Wednesday, February 4th. Finally, Roth Mkm set a $17.00 target price on Uranium Energy in a research note on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.66.

Uranium Energy Stock Down 9.8%

Shares of NYSEAMERICAN UEC opened at $11.91 on Wednesday. The firm has a market capitalization of $5.84 billion, a P/E ratio of -99.25 and a beta of 1.17. The stock’s 50-day simple moving average is $14.05 and its two-hundred day simple moving average is $14.26. Uranium Energy has a twelve month low of $5.03 and a twelve month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last announced its earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $20.20 million for the quarter, compared to the consensus estimate of $12.85 million. As a group, research analysts anticipate that Uranium Energy will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Uranium Energy

A number of hedge funds and other institutional investors have recently modified their holdings of UEC. Vanguard Group Inc. grew its holdings in shares of Uranium Energy by 32.2% in the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock worth $551,854,000 after purchasing an additional 11,521,597 shares during the last quarter. Norges Bank bought a new position in shares of Uranium Energy during the fourth quarter valued at about $118,019,000. Price T Rowe Associates Inc. MD raised its stake in shares of Uranium Energy by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 66,352,123 shares of the basic materials company’s stock valued at $774,995,000 after acquiring an additional 7,013,279 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Uranium Energy by 25.3% during the fourth quarter. Van ECK Associates Corp now owns 19,665,665 shares of the basic materials company’s stock valued at $229,695,000 after acquiring an additional 3,969,046 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Uranium Energy by 18.5% during the fourth quarter. State Street Corp now owns 22,521,502 shares of the basic materials company’s stock valued at $263,051,000 after acquiring an additional 3,509,848 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

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.