Zacks Investment Research upgraded shares of Uranium Energy Corp. (NYSEMKT:UEC) from a sell rating to a hold rating in a report released on Saturday.
According to Zacks, “Uranium Energy Corp is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. “
Uranium Energy Corp. (UEC) opened at 1.59 on Friday. The company’s market capitalization is $220.50 million. Uranium Energy Corp. has a 12-month low of $0.81 and a 12-month high of $1.92. The company has a 50-day moving average of $1.58 and a 200 day moving average of $1.48.
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A number of hedge funds have recently made changes to their positions in UEC. Global X Management Co. LLC raised its position in Uranium Energy Corp. by 111.0% in the first quarter. Global X Management Co. LLC now owns 13,258,078 shares of the basic materials company’s stock worth $18,826,000 after buying an additional 6,975,348 shares during the last quarter. JPMorgan Chase & Co. raised its position in Uranium Energy Corp. by 50.3% in the first quarter. JPMorgan Chase & Co. now owns 5,400,192 shares of the basic materials company’s stock worth $7,669,000 after buying an additional 1,807,776 shares during the last quarter. Vanguard Group Inc. raised its position in Uranium Energy Corp. by 23.6% in the first quarter. Vanguard Group Inc. now owns 4,888,279 shares of the basic materials company’s stock worth $6,942,000 after buying an additional 934,513 shares during the last quarter. Geode Capital Management LLC raised its position in Uranium Energy Corp. by 79.4% in the first quarter. Geode Capital Management LLC now owns 886,863 shares of the basic materials company’s stock worth $1,259,000 after buying an additional 392,410 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in Uranium Energy Corp. by 137.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 712,686 shares of the basic materials company’s stock worth $1,012,000 after buying an additional 412,325 shares during the last quarter.
About Uranium Energy Corp.
Uranium Energy Corp. is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates, on projects located in the United States and Paraguay. The Company utilizes in-situ recovery (ISR) mining. The Company has uranium mine located in the state of Texas, the Palangana Mine, which utilizes ISR mining and extracts uranium oxide (U3O8).
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