PNC Financial Services Group Inc. Increases Stake in Uranium Energy Corp. $UEC

PNC Financial Services Group Inc. raised its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 86.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,209 shares of the basic materials company’s stock after acquiring an additional 28,002 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Uranium Energy were worth $409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MMCAP International Inc. SPC increased its holdings in shares of Uranium Energy by 8.6% during the 1st quarter. MMCAP International Inc. SPC now owns 19,716,341 shares of the basic materials company’s stock valued at $94,244,000 after purchasing an additional 1,559,173 shares in the last quarter. Encompass Capital Advisors LLC grew its position in Uranium Energy by 255.1% during the first quarter. Encompass Capital Advisors LLC now owns 4,223,438 shares of the basic materials company’s stock valued at $20,188,000 after buying an additional 3,033,974 shares during the period. Northern Trust Corp grew its position in Uranium Energy by 3.2% during the first quarter. Northern Trust Corp now owns 4,156,467 shares of the basic materials company’s stock valued at $19,868,000 after buying an additional 128,329 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Uranium Energy by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,420,671 shares of the basic materials company’s stock valued at $16,351,000 after buying an additional 11,542 shares in the last quarter. Finally, Titan Global Capital Management USA LLC raised its position in shares of Uranium Energy by 123.2% in the second quarter. Titan Global Capital Management USA LLC now owns 3,217,324 shares of the basic materials company’s stock worth $21,878,000 after acquiring an additional 1,775,613 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Price Performance

Shares of Uranium Energy stock opened at $12.09 on Tuesday. The stock has a market capitalization of $5.84 billion, a P/E ratio of -71.11 and a beta of 1.40. The business has a 50 day simple moving average of $13.40 and a two-hundred day simple moving average of $9.94. Uranium Energy Corp. has a 12 month low of $3.85 and a 12 month high of $17.80.

Analysts Set New Price Targets

A number of research firms have recently commented on UEC. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research report on Friday, October 3rd. Zacks Research downgraded Uranium Energy from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Canaccord Genuity Group set a $17.50 price objective on Uranium Energy and gave the company a “buy” rating in a research report on Wednesday, September 24th. Stifel Nicolaus started coverage on Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 target price for the company. Finally, Roth Capital lifted their price target on shares of Uranium Energy from $11.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.19.

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.