Wellington Management Group LLP Boosts Stake in Uranium Energy Corp. $UEC

Wellington Management Group LLP lifted its position in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 62.2% in the second quarter, Holdings Channel reports. The firm owned 5,310,825 shares of the basic materials company’s stock after acquiring an additional 2,035,586 shares during the period. Wellington Management Group LLP’s holdings in Uranium Energy were worth $56,613,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in UEC. Empowered Funds LLC purchased a new position in Uranium Energy during the 2nd quarter worth approximately $397,000. United Capital Financial Advisors LLC acquired a new stake in shares of Uranium Energy in the second quarter valued at approximately $142,000. PenderFund Capital Management Ltd. acquired a new stake in shares of Uranium Energy in the second quarter valued at approximately $35,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Uranium Energy during the second quarter worth approximately $94,000. Finally, Palo Duro Investment Partners LP purchased a new position in shares of Uranium Energy during the second quarter worth approximately $438,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Uranium Energy Trading Down 0.9%

Shares of UEC stock opened at $11.51 on Friday. The company has a market capitalization of $5.70 billion, a P/E ratio of -95.92 and a beta of 1.23. The business’s 50 day moving average is $10.80 and its two-hundred day moving average is $12.71. Uranium Energy Corp. has a twelve month low of $8.90 and a twelve month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last released 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). As a group, equities analysts predict that Uranium Energy Corp. will post -0.15 earnings per share for the current fiscal 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.