Summit Financial LLC Makes New Investment in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Summit Financial LLC acquired a new stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 612,496 shares of the basic materials company’s stock, valued at approximately $4,098,000. Summit Financial LLC owned approximately 0.14% of Uranium Energy as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in UEC. Charles Schwab Investment Management Inc. raised its position in Uranium Energy by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,320,496 shares of the basic materials company’s stock valued at $20,620,000 after purchasing an additional 90,098 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Uranium Energy by 712.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,821,256 shares of the basic materials company’s stock valued at $11,310,000 after purchasing an additional 1,597,108 shares during the last quarter. Fiduciary Trust Co raised its holdings in shares of Uranium Energy by 12.4% during the 3rd quarter. Fiduciary Trust Co now owns 23,660 shares of the basic materials company’s stock valued at $147,000 after buying an additional 2,619 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Uranium Energy by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 655,946 shares of the basic materials company’s stock worth $4,073,000 after buying an additional 26,102 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Uranium Energy in the third quarter worth approximately $170,000. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Trading Down 3.8 %

Uranium Energy stock opened at $4.78 on Tuesday. Uranium Energy Corp. has a 1-year low of $4.06 and a 1-year high of $8.93. The firm has a market cap of $2.02 billion, a P/E ratio of -39.83 and a beta of 1.88. The firm has a 50-day moving average of $6.23 and a 200-day moving average of $6.77.

Wall Street Analysts Forecast Growth

UEC has been the topic of several research reports. National Bankshares set a $10.00 price target on shares of Uranium Energy and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus set a $10.50 target price on shares of Uranium Energy in a research report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and set a $12.25 price target on shares of Uranium Energy in a research report on Thursday, March 13th. National Bank Financial began coverage on Uranium Energy in a report on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Uranium Energy has an average rating of “Buy” and an average target price of $10.60.

About Uranium Energy

Uranium Energy Corp., together with its subsidiaries, engages in exploration, pre-extraction, extraction, and processing uranium and titanium concentrates in the United States, Canada, and Paraguay. It owns interests in the Palangana mine, Goliad, Burke Hollow, Longhorn, and Salvo projects located in Texas; Anderson, Workman Creek, and Los Cuatros projects situated in Arizona; Dalton Pass and C de Baca project located in New Mexico; Roughrider, Shea Creek, Christie Lake, Horseshoe-Raven, Hidden Bay, Diabase, West Bear, JCU, and other project located in Canada; and Yuty, Oviedo, and Alto Paraná titanium projects in Paraguay.