490,507 Shares in Uranium Energy Corp. $UEC Acquired by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 490,507 shares of the basic materials company’s stock, valued at approximately $5,229,000.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Uranium Energy by 56.6% during the first quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock worth $1,064,000 after buying an additional 80,464 shares during the period. Caxton Associates LLP acquired a new position in shares of Uranium Energy in the 1st quarter valued at $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Uranium Energy by 44.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company’s stock worth $6,537,000 after acquiring an additional 423,994 shares during the last quarter. Focus Partners Wealth raised its stake in Uranium Energy by 114.0% in the 1st quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock worth $174,000 after acquiring an additional 19,407 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Uranium Energy by 24.2% during the 2nd quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company’s stock worth $549,000 after acquiring an additional 15,744 shares during the period. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $11.51 on Friday. The company has a market capitalization of $5.70 billion, a PE ratio of -95.92 and a beta of 1.23. The company has a fifty day moving average of $10.80 and a 200 day moving average of $12.71. Uranium Energy Corp. has a 1 year low of $8.90 and a 1 year high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Research analysts expect that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on UEC. HC Wainwright reiterated a “buy” rating on shares of Uranium Energy in a research note on Wednesday, August 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a report on Tuesday, June 9th. Finally, Jefferies Financial Group initiated coverage on Uranium Energy in a research report on Thursday. They issued a “hold” rating and a $11.50 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.75.

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.