Balboa Wealth Partners Invests $135,000 in Uranium Energy Corp. $UEC

Balboa Wealth Partners bought a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,850 shares of the basic materials company’s stock, valued at approximately $135,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UEC. MMCAP International Inc. SPC grew its holdings in Uranium Energy by 8.6% in the 1st quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company’s stock worth $94,244,000 after acquiring an additional 1,559,173 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Uranium Energy by 120.0% during the first quarter. Victory Capital Management Inc. now owns 5,930,920 shares of the basic materials company’s stock valued at $28,350,000 after acquiring an additional 3,235,394 shares during the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of Uranium Energy by 255.1% during the first quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company’s stock worth $20,188,000 after purchasing an additional 3,033,974 shares during the period. Northern Trust Corp grew its stake in shares of Uranium Energy by 3.2% in the first quarter. Northern Trust Corp now owns 4,156,467 shares of the basic materials company’s stock worth $19,868,000 after purchasing an additional 128,329 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Uranium Energy by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,420,671 shares of the basic materials company’s stock worth $16,351,000 after purchasing an additional 11,542 shares during the last quarter. 62.28% of the stock is currently owned by institutional investors.

Uranium Energy Stock Down 10.6%

UEC opened at $13.51 on Wednesday. Uranium Energy Corp. has a 52 week low of $3.85 and a 52 week high of $17.80. The stock has a market cap of $6.53 billion, a PE ratio of -79.47 and a beta of 1.40. The business has a 50 day moving average of $12.47 and a 200-day moving average of $8.54.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on UEC shares. Zacks Research raised Uranium Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, September 22nd. Roth Capital upped their target price on Uranium Energy from $11.50 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. The Goldman Sachs Group raised their price target on Uranium Energy from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Stifel Nicolaus started coverage on shares of Uranium Energy in a research report on Monday, October 6th. They set a “buy” rating and a $10.50 price objective on the stock. Finally, TD Securities raised their target price on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Uranium Energy presently has a consensus rating of “Buy” and an average price target of $13.80.

Insider Buying and Selling

In other Uranium Energy news, Director David Kong sold 50,800 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total transaction of $488,696.00. Following the completion of the transaction, the director owned 182,237 shares of the company’s stock, valued at approximately $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

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.