Uranium Energy (NYSEAMERICAN:UEC) Trading 10.5% Higher – Should You Buy?

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) were up 10.5% on Wednesday . The stock traded as high as $16.71 and last traded at $17.1830. Approximately 5,179,540 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 8,540,041 shares. The stock had previously closed at $15.55.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on UEC shares. HC Wainwright boosted their target price on shares of Uranium Energy from $12.75 to $19.75 and gave the stock a “buy” rating in a report on Thursday, September 25th. Stifel Canada raised Uranium Energy to a “strong-buy” rating in a report on Friday, October 3rd. BMO Capital Markets reissued a “market perform” rating and set a $14.00 price target (up from $7.75) on shares of Uranium Energy in a research note on Thursday, September 25th. Canaccord Genuity Group set a $17.50 target price on shares of Uranium Energy and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Stifel Nicolaus initiated coverage on shares of Uranium Energy in a research note on Monday, October 6th. They set a “buy” rating and a $10.50 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.92.

Uranium Energy Price Performance

The firm has a market cap of $8.41 billion, a P/E ratio of -144.97 and a beta of 1.23. The stock’s 50-day simple moving average is $12.69 and its two-hundred day simple moving average is $11.67.

Institutional Investors Weigh In On Uranium Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Uranium Energy in the 2nd quarter valued at $105,058,000. Vanguard Group Inc. grew its holdings in shares of 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 during the last quarter. Caxton Associates LLP increased its stake in Uranium Energy by 11,233.4% in the 2nd quarter. Caxton Associates LLP now owns 4,093,058 shares of the basic materials company’s stock worth $27,833,000 after buying an additional 4,056,943 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Uranium Energy by 9.9% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock valued at $354,847,000 after buying an additional 2,393,683 shares in the last quarter. Finally, State Street Corp boosted its position in Uranium Energy by 9.5% in the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock valued at $156,717,000 after buying an additional 2,000,516 shares during the period. 62.28% of the stock is owned by institutional investors.

Uranium Energy Company Profile

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.