Van ECK Associates Corp Acquires 3,969,046 Shares of Uranium Energy Corp. $UEC

Van ECK Associates Corp lifted its position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,665,665 shares of the basic materials company’s stock after purchasing an additional 3,969,046 shares during the quarter. Van ECK Associates Corp’s holdings in Uranium Energy were worth $229,695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Uranium Energy by 32.2% in the 4th quarter. Vanguard Group Inc. now owns 47,247,813 shares of the basic materials company’s stock valued at $551,854,000 after acquiring an additional 11,521,597 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $354,847,000 after buying an additional 2,393,683 shares during the last quarter. State Street Corp increased its stake 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 last quarter. Alps Advisors Inc. increased its stake in shares of Uranium Energy by 16.3% during the 4th quarter. Alps Advisors Inc. now owns 17,462,284 shares of the basic materials company’s stock worth $203,959,000 after purchasing an additional 2,453,744 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Uranium Energy by 13.4% during the 4th quarter. Geode Capital Management LLC now owns 11,449,334 shares of the basic materials company’s stock worth $133,751,000 after purchasing an additional 1,355,701 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UEC has been the topic of several recent analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $26.75 target price on shares of Uranium Energy in a report on Wednesday. TD Securities reduced their target price on shares of Uranium Energy from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Roth Mkm set a $17.00 target price on shares of Uranium Energy in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Uranium Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.41.

Uranium Energy Trading Up 3.8%

Shares of Uranium Energy stock opened at $11.03 on Friday. The company has a 50 day moving average of $13.84 and a 200-day moving average of $14.28. Uranium Energy Corp. has a 1-year low of $5.90 and a 1-year high of $20.34. The company has a market cap of $5.46 billion, a PE ratio of -91.92 and a beta of 1.12.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Tuesday, March 10th. The basic materials company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $20.20 million for the quarter, compared to the consensus estimate of $12.85 million. Research analysts forecast that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Uranium Energy 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.