Ninepoint Partners LP Takes $1.12 Million Position in Uranium Energy Corp. $UEC

Ninepoint Partners LP acquired a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 105,499 shares of the basic materials company’s stock, valued at approximately $1,125,000.

Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Uranium Energy in the 2nd quarter valued at $432,676,000. Vanguard Group Inc. increased its position in shares of Uranium Energy by 32.2% during the 4th 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 purchased a new stake in Uranium Energy in the 4th quarter valued at about $118,019,000. Price T Rowe Associates Inc. MD lifted its position in Uranium Energy by 11.8% in 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 buying an additional 7,013,279 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Uranium Energy by 25.3% in 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 buying an additional 3,969,046 shares during the last quarter. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on UEC. The Goldman Sachs Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research report on Tuesday, June 9th. HC Wainwright reaffirmed a “buy” rating and issued a $26.75 price objective on shares of Uranium Energy in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Trading Down 4.1%

Uranium Energy stock opened at $11.15 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of -92.92 and a beta of 1.22. Uranium Energy Corp. has a twelve month low of $8.90 and a twelve month high of $20.34. The stock’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $12.97.

Uranium Energy (NYSEAMERICAN:UEC) last released its earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Sell-side analysts predict that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

About Uranium Energy

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.