National Bankshares Issues Positive Forecast for Uranium Energy (NYSEAMERICAN:UEC) Stock Price

Uranium Energy (NYSEAMERICAN:UEC) had its price objective raised by National Bankshares from $15.50 to $16.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bankshares’ price target indicates a potential upside of 26.23% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Stifel Canada upgraded shares of Uranium Energy to a “strong-buy” rating in a research report on Friday, October 3rd. Canaccord Genuity Group set a $17.50 price target on Uranium Energy and gave the stock a “buy” rating in a research report on Wednesday, September 24th. BMO Capital Markets restated a “market perform” rating and set a $14.00 price objective (up from $7.75) on shares of Uranium Energy in a research report on Thursday, September 25th. HC Wainwright lifted their target price on Uranium Energy from $12.75 to $19.75 and gave the stock a “buy” rating in a report on Thursday, September 25th. Finally, The Goldman Sachs Group boosted their target price on Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Uranium Energy currently has a consensus rating of “Buy” and an average target price of $14.92.

Uranium Energy Stock Performance

Shares of UEC traded up $1.14 during mid-day trading on Friday, hitting $13.07. 10,895,234 shares of the stock were exchanged, compared to its average volume of 12,134,603. The company has a market cap of $6.32 billion, a PE ratio of -108.72 and a beta of 1.35. Uranium Energy has a 52-week low of $3.85 and a 52-week high of $17.80. The firm has a 50-day moving average of $13.21 and a two-hundred day moving average of $10.75.

Hedge Funds Weigh In On Uranium Energy

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Uranium Energy by 34.5% in the third quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock worth $476,588,000 after purchasing an additional 9,159,024 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Uranium Energy by 9.9% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock worth $354,847,000 after buying an additional 2,393,683 shares during the period. State Street Corp grew its position in shares of Uranium Energy by 9.5% during the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock worth $156,717,000 after buying an additional 2,000,516 shares in the last quarter. Norges Bank purchased a new position in shares of Uranium Energy during the second quarter valued at $105,058,000. Finally, Geode Capital Management LLC increased its stake in shares of Uranium Energy by 3.0% during the second quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company’s stock valued at $67,344,000 after buying an additional 289,662 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.