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

Uranium Energy Corp. (NYSEAMERICAN:UECGet Free Report) gapped up before the market opened on Monday . The stock had previously closed at $6.27, but opened at $6.58. Uranium Energy shares last traded at $6.58, with a volume of 3,180,041 shares.

Wall Street Analyst Weigh In

Several research analysts have recently commented on UEC shares. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $12.25 price objective on shares of Uranium Energy in a report on Thursday, March 13th. BMO Capital Markets assumed coverage on shares of Uranium Energy in a report on Tuesday, June 3rd. They issued an “outperform” rating and a $7.75 price objective on the stock. National Bank Financial assumed coverage on shares of Uranium Energy in a report on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Stifel Nicolaus set a $10.50 price objective on shares of Uranium Energy in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $10.13.

Check Out Our Latest Report on UEC

Uranium Energy Stock Up 7.8%

The stock has a 50-day moving average price of $5.28 and a 200 day moving average price of $6.48. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -56.70 and a beta of 1.88.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently modified their holdings of UEC. Harbour Investments Inc. grew its position in Uranium Energy by 947.4% in the 4th quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company’s stock valued at $26,000 after buying an additional 3,515 shares during the last quarter. Versant Capital Management Inc purchased a new position in Uranium Energy in the 1st quarter valued at $27,000. Generali Investments Management Co LLC purchased a new position in Uranium Energy in the 4th quarter valued at $30,000. Farther Finance Advisors LLC grew its position in Uranium Energy by 43.5% in the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock valued at $36,000 after buying an additional 2,364 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Uranium Energy in the 1st quarter valued at $36,000. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Uranium Energy Company Profile

(Get Free Report)

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.

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