Uranium Energy (NYSEAMERICAN:UEC) Trading Up 9.4% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) traded up 9.4% during trading on Thursday . The stock traded as high as $7.41 and last traded at $7.32. 2,475,758 shares were traded during mid-day trading, a decline of 68% from the average session volume of 7,617,867 shares. The stock had previously closed at $6.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. HC Wainwright upped their price objective on shares of Uranium Energy from $10.25 to $11.00 and gave the company a “buy” rating in a report on Monday, December 9th. Roth Mkm restated a “buy” rating and issued a $10.25 target price (up previously from $9.75) on shares of Uranium Energy in a research report on Wednesday, October 23rd.

Uranium Energy Stock Up 10.8 %

The firm’s 50 day moving average is $6.61. The company has a market cap of $3.14 billion, a P/E ratio of -61.75 and a beta of 1.84.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UEC. Driehaus Capital Management LLC lifted its holdings in shares of Uranium Energy by 1.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 9,147,972 shares of the basic materials company’s stock worth $54,979,000 after acquiring an additional 90,522 shares during the period. Geode Capital Management LLC increased its holdings in shares of Uranium Energy by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 9,083,449 shares of the basic materials company’s stock worth $56,419,000 after buying an additional 159,921 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Uranium Energy by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,954,561 shares of the basic materials company’s stock worth $35,786,000 after buying an additional 947,773 shares during the period. Van ECK Associates Corp lifted its stake in shares of Uranium Energy by 78.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,956,971 shares of the basic materials company’s stock valued at $30,783,000 after purchasing an additional 2,171,468 shares in the last quarter. Finally, Segra Capital Management LLC boosted its position in Uranium Energy by 81.0% during the 3rd quarter. Segra Capital Management LLC now owns 4,036,529 shares of the basic materials company’s stock worth $24,926,000 after purchasing an additional 1,806,529 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Uranium Energy

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.