Encompass Capital Advisors LLC Takes $7.96 Million Position in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Encompass Capital Advisors LLC bought a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,189,464 shares of the basic materials company’s stock, valued at approximately $7,958,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its holdings in Uranium Energy by 52.2% in the 4th quarter. Driehaus Capital Management LLC now owns 9,499,842 shares of the basic materials company’s stock valued at $63,554,000 after acquiring an additional 3,259,704 shares during the last quarter. Eagle Global Advisors LLC bought a new stake in Uranium Energy during the fourth quarter worth approximately $261,000. Cubist Systematic Strategies LLC bought a new stake in Uranium Energy during the fourth quarter worth approximately $6,549,000. Cetera Investment Advisers grew its position in Uranium Energy by 18.8% in the fourth quarter. Cetera Investment Advisers now owns 57,384 shares of the basic materials company’s stock worth $384,000 after buying an additional 9,074 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its position in shares of Uranium Energy by 466.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 64,497 shares of the basic materials company’s stock valued at $431,000 after acquiring an additional 53,107 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.

Uranium Energy Trading Down 3.3 %

Uranium Energy stock opened at $5.58 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of -46.50 and a beta of 1.88. Uranium Energy Corp. has a 1-year low of $3.85 and a 1-year high of $8.93. The firm’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $6.47.

Analyst Upgrades and Downgrades

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

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.