Palo Duro Investment Partners LP Invests $438,000 in Uranium Energy Corp. $UEC

Palo Duro Investment Partners LP bought a new position in Uranium Energy Corp. (NYSEAMERICAN:UEC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 41,066 shares of the basic materials company’s stock, valued at approximately $438,000. Uranium Energy comprises 0.1% of Palo Duro Investment Partners LP’s portfolio, making the stock its 19th largest holding.

Several other large investors have also added to or reduced their stakes in the business. Ninepoint Partners LP bought a new stake in shares of Uranium Energy in the 2nd quarter worth approximately $1,125,000. Boundless Plain Holdings Ltd purchased a new position in Uranium Energy in the fourth quarter valued at approximately $2,085,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Uranium Energy during the fourth quarter valued at $1,533,000. Vanguard Group Inc. grew its holdings in Uranium Energy by 32.2% during the fourth quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock valued at $551,854,000 after purchasing an additional 11,521,597 shares during the period. Finally, Titan Global Capital Management USA LLC increased its position in Uranium Energy by 7.1% in the fourth quarter. Titan Global Capital Management USA LLC now owns 2,875,810 shares of the basic materials company’s stock worth $33,589,000 after buying an additional 191,765 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

Uranium Energy Trading Down 1.1%

Shares of UEC stock opened at $13.13 on Thursday. The stock has a market capitalization of $6.50 billion, a P/E ratio of -109.42 and a beta of 1.22. The firm’s 50 day moving average is $10.70 and its 200 day moving average is $12.88. Uranium Energy Corp. has a 12 month low of $8.90 and a 12 month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings data 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). On average, equities analysts predict that Uranium Energy Corp. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group restated a “buy” rating and issued a $16.00 target price on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reiterated a “buy” rating on shares of Uranium Energy in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.41.

Uranium Energy 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.