Uranium Energy Corp. $UEC Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,394,204 shares of the basic materials company’s stock after selling 69,357 shares during the period. Pinnacle Associates Ltd.’s holdings in Uranium Energy were worth $16,284,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of UEC. AQR Capital Management LLC raised its stake in shares of Uranium Energy by 56.6% in the 1st quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock valued at $1,064,000 after purchasing an additional 80,464 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Uranium Energy in the 1st quarter valued at about $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Uranium Energy by 44.9% in the 1st 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 valued at $6,537,000 after purchasing an additional 423,994 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Uranium Energy by 114.0% in the 1st quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 19,407 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Uranium Energy by 24.2% in 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 in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $15.37 on Thursday. Uranium Energy Corp. has a 12 month low of $5.03 and a 12 month high of $20.34. The firm has a market capitalization of $7.53 billion, a PE ratio of -128.08 and a beta of 1.17. The company’s 50 day simple moving average is $14.10 and its 200 day simple moving average is $14.29.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings data on Tuesday, March 10th. The basic materials company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $20.20 million for the quarter, compared to analyst estimates of $12.85 million. Sell-side analysts anticipate that Uranium Energy Corp. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UEC shares. Roth Mkm set a $17.00 price objective on shares of Uranium Energy in a research note 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. HC Wainwright increased their price objective on shares of Uranium Energy from $26.50 to $26.75 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $18.00 price objective on shares of Uranium Energy in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Uranium Energy presently has a consensus rating of “Moderate Buy” and an average price target of $17.66.

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.