Uranium Royalty (NASDAQ:UROY) Stock Falls 4.2% – Here’s Why

Uranium Royalty Corp. (NASDAQ:UROY)’s share price was down 4.2% during mid-day trading on Wednesday. The stock traded as low as $3.55 and last traded at $3.5450. 236,400 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,937,628 shares. The stock had previously closed at $3.70.

Analyst Upgrades and Downgrades

UROY has been the subject of a number of analyst reports. National Bank Financial raised their price objective on shares of Uranium Royalty from $3.75 to $4.00 and gave the stock an “outperform” rating in a report on Monday, October 19th. Weiss Ratings cut shares of Uranium Royalty from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. HC Wainwright reiterated a “buy” rating and issued a $4.50 price objective on shares of Uranium Royalty in a research note on Monday, October 19th. Finally, Zacks Research downgraded Uranium Royalty from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 14th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Uranium Royalty has an average rating of “Moderate Buy” and an average price target of $4.25.

Uranium Royalty Price Performance

The company’s 50 day simple moving average is $4.12 and its two-hundred day simple moving average is $3.77. The stock has a market capitalization of $1.34 billion, a P/E ratio of 39.39 and a beta of 1.57.

Uranium Royalty (NASDAQ:UROY) last released its quarterly earnings results on Monday, September 14th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $51.68 million for the quarter, compared to analyst estimates of $52.23 million. On average, research analysts anticipate that Uranium Royalty Corp. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Uranium Royalty

Several hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Uranium Royalty during the second quarter valued at approximately $421,000. The Manufacturers Life Insurance Company bought a new position in Uranium Royalty in the 2nd quarter worth approximately $402,000. Squarepoint Ops LLC bought a new position in Uranium Royalty in the 2nd quarter worth approximately $397,000. Renaissance Technologies LLC lifted its holdings in Uranium Royalty by 206.5% during the 1st quarter. Renaissance Technologies LLC now owns 196,751 shares of the company’s stock worth $718,000 after buying an additional 132,551 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in Uranium Royalty during the 2nd quarter worth $227,000. 24.19% of the stock is owned by institutional investors.

About Uranium Royalty

Uranium Royalty Corp. (NASDAQ: UROY) is a uranium-focused royalty and streaming company. It provides investors with exposure to the uranium sector through a portfolio of uranium interests rather than operating a traditional mining business. The company’s activities include acquiring uranium royalties, streams, offtake agreements, physical uranium, and equity interests in uranium exploration and development companies.

Uranium Royalty’s portfolio is linked to projects and properties in established uranium-producing and exploration regions, including the United States, Canada, Australia, and Paraguay.