IsoEnergy (NYSEAMERICAN:ISOU) Shares Up 6.7% – Here’s Why

IsoEnergy Ltd. (NYSEAMERICAN:ISOU)’s share price shot up 6.7% during trading on Tuesday. The stock traded as high as $10.09 and last traded at $10.1030. 15,058 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 134,260 shares. The stock had previously closed at $9.47.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada initiated coverage on shares of IsoEnergy in a research note on Thursday. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Strong Buy”.

IsoEnergy Price Performance

The business’s fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $10.67. The company has a market cap of $686.55 million, a PE ratio of -61.78 and a beta of 1.87.

Hedge Funds Weigh In On IsoEnergy

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its holdings in IsoEnergy by 581.0% in the 1st quarter. Royal Bank of Canada now owns 4,202 shares of the company’s stock worth $44,000 after purchasing an additional 3,585 shares during the period. Banque Cantonale Vaudoise boosted its position in IsoEnergy by 3.9% during the first quarter. Banque Cantonale Vaudoise now owns 101,478 shares of the company’s stock worth $1,072,000 after purchasing an additional 3,800 shares in the last quarter. Wealthspire Retirement LLC grew its holdings in IsoEnergy by 19.8% in the first quarter. Wealthspire Retirement LLC now owns 27,800 shares of the company’s stock valued at $293,000 after purchasing an additional 4,600 shares during the period. The Manufacturers Life Insurance Company grew its holdings in IsoEnergy by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 932,342 shares of the company’s stock valued at $9,046,000 after purchasing an additional 7,665 shares during the period. Finally, Rockbridge Asset Management LLC purchased a new stake in shares of IsoEnergy in the second quarter valued at approximately $100,000.

About IsoEnergy

IsoEnergy Ltd. is a mineral exploration and development company focused on the discovery and advancement of uranium resources. The company’s primary activities include acquiring, exploring and evaluating prospective uranium properties, with the goal of developing projects that may support future mining operations.

IsoEnergy’s principal asset is the Hurricane uranium deposit, located on the Larocque East property in Saskatchewan’s Athabasca Basin. The Athabasca Basin is one of the world’s leading uranium-producing regions and is known for high-grade uranium deposits.