Uranium Energy (NYSEAMERICAN:UEC) Shares Gap Down Following Weak Earnings

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.61, but opened at $12.04. Uranium Energy shares last traded at $11.3850, with a volume of 4,150,308 shares traded.

The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06).

Analyst Ratings Changes

Several research analysts have issued reports on UEC shares. Roth Mkm set a $17.00 target price on shares of Uranium Energy in a report on Wednesday, March 11th. TD Securities dropped their price objective on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.66.

Institutional Trading of Uranium Energy

Several hedge funds have recently modified their holdings of UEC. AQR Capital Management LLC raised its stake in shares of Uranium Energy by 56.6% during the 1st quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock worth $1,064,000 after acquiring an additional 80,464 shares in the last quarter. Caxton Associates LLP purchased a new position in Uranium Energy in the first quarter worth $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Uranium Energy by 44.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company’s stock worth $6,537,000 after purchasing an additional 423,994 shares during the last quarter. Focus Partners Wealth increased its position in shares of Uranium Energy by 114.0% during the first quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock worth $174,000 after purchasing an additional 19,407 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Uranium Energy by 24.2% during the 2nd quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company’s stock valued at $549,000 after purchasing an additional 15,744 shares during the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Uranium Energy Trading Down 10.2%

The stock has a 50-day moving average price of $14.05 and a two-hundred day moving average price of $14.33. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of -93.99 and a beta of 1.12.

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.