Palo Duro Investment Partners LP Purchases Shares of 41,066 Uranium Energy Corp. $UEC

Palo Duro Investment Partners LP purchased a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) in the second quarter, according to its most recent filing with the SEC. The firm purchased 41,066 shares of the basic materials company’s stock, valued at approximately $438,000. Uranium Energy accounts for 0.1% of Palo Duro Investment Partners LP’s portfolio, making the stock its 19th largest holding.

Several other hedge funds have also recently made changes to their positions in UEC. PenderFund Capital Management Ltd. acquired a new stake in Uranium Energy during the fourth quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Uranium Energy during the 4th quarter worth approximately $39,000. Longview Financial Advisors Inc. bought a new position in shares of Uranium Energy during the 1st quarter worth approximately $52,000. EFG International AG acquired a new stake in shares of Uranium Energy during the 4th quarter worth approximately $47,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Uranium Energy during the 1st quarter worth approximately $60,000. 62.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

UEC has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research report on Tuesday, June 9th. HC Wainwright restated a “buy” rating on shares of Uranium Energy in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.41.

Uranium Energy Stock Performance

UEC stock opened at $13.13 on Thursday. The stock’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $12.88. Uranium Energy Corp. has a fifty-two week low of $8.90 and a fifty-two week high of $20.34. The company has a market cap of $6.50 billion, a P/E ratio of -109.42 and a beta of 1.22.

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

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.