Royal Bank Of Canada Initiates Coverage on Uranium Energy (NYSEAMERICAN:UEC)

Royal Bank Of Canada assumed coverage on shares of Uranium Energy (NYSEAMERICAN:UEC) in a research report issued on Friday, MarketBeat.com reports. The brokerage set a “sector perform” rating and a $10.00 price target on the basic materials company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 7.53% from the stock’s current price.

UEC has been the subject of several other reports. HC Wainwright reiterated a “buy” rating and issued a $26.75 target price on shares of Uranium Energy in a research note on Wednesday, September 30th. The Goldman Sachs Group restated 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 started coverage on shares of Uranium Energy in a research report on Thursday, September 3rd. They set a “hold” rating and a $11.50 price objective for the company. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.16.

Uranium Energy Price Performance

UEC stock opened at $9.30 on Friday. The firm’s fifty day simple moving average is $10.83 and its 200-day simple moving average is $12.02. The company has a market capitalization of $4.61 billion, a P/E ratio of -33.21 and a beta of 1.38. Uranium Energy has a 12 month low of $8.90 and a 12 month high of $20.34.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings data on Tuesday, September 29th. The basic materials company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). The firm had revenue of $17.05 million for the quarter, compared to analyst estimates of $9.00 million. As a group, sell-side analysts forecast that Uranium Energy will post -0.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UEC. PenderFund Capital Management Ltd. purchased a new position in Uranium Energy during the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd purchased a new position in Uranium Energy during the fourth quarter worth about $39,000. EFG International AG purchased a new position in Uranium Energy during the second quarter worth about $43,000. Longview Financial Advisors Inc. purchased a new position in Uranium Energy during the first quarter worth about $52,000. Finally, Fiduciary Financial Advisors purchased a new position in Uranium Energy during the second quarter worth about $57,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company headquartered in Corpus Christi, Texas. The company focuses on the acquisition, development and operation of uranium projects, with an emphasis on in-situ recovery (ISR), a mining method that extracts uranium from underground deposits without conventional open-pit or underground mining. Its operations and development portfolio are primarily located in the United States, including projects in Texas and Wyoming.

UEC’s U.S. assets include ISR projects, processing facilities and associated resource properties.