Uranium Energy (NYSEAMERICAN:UEC) Shares Up 7.7% – What’s Next?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares traded up 7.7% during mid-day trading on Wednesday . The stock traded as high as $4.97 and last traded at $4.96. 2,026,426 shares changed hands during trading, a decline of 75% from the average session volume of 8,209,663 shares. The stock had previously closed at $4.61.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. National Bank Financial initiated coverage on shares of Uranium Energy in a research note on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $12.25 price objective on shares of Uranium Energy in a research note on Thursday, March 13th. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Stifel Nicolaus set a $10.50 price target on shares of Uranium Energy in a report on Wednesday, March 12th. Finally, National Bankshares set a $10.00 price objective on Uranium Energy and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Uranium Energy presently has an average rating of “Buy” and an average price target of $10.60.

Uranium Energy Price Performance

The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -42.08 and a beta of 1.88. The business has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $6.57.

Institutional Investors Weigh In On Uranium Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in UEC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Uranium Energy by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,230,344 shares of the basic materials company’s stock valued at $195,551,000 after purchasing an additional 423,233 shares during the period. Vanguard Group Inc. raised its position in Uranium Energy by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 25,862,079 shares of the basic materials company’s stock valued at $173,017,000 after buying an additional 631,929 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Uranium Energy by 45.9% in the 4th quarter. JPMorgan Chase & Co. now owns 15,842,713 shares of the basic materials company’s stock valued at $105,988,000 after acquiring an additional 4,982,949 shares in the last quarter. Norges Bank acquired a new position in Uranium Energy during the 4th quarter worth approximately $100,773,000. Finally, Driehaus Capital Management LLC grew its stake in shares of Uranium Energy by 52.2% during the 4th quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company’s stock worth $63,554,000 after acquiring an additional 3,259,704 shares in the last quarter. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Uranium Energy Company 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.