Uranium Energy (NYSEAMERICAN:UEC) Trading Up 5.9% – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares rose 5.9% during trading on Thursday . The company traded as high as $8.68 and last traded at $8.67. Approximately 4,263,443 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 7,624,625 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $10.25 price objective on shares of Uranium Energy in a research report on Tuesday, September 24th. Roth Mkm reissued a “buy” rating and issued a $10.25 target price (up from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd.

Uranium Energy Price Performance

The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -136.06 and a beta of 1.84. The business’s 50 day simple moving average is $6.50.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings data on Thursday, September 26th. The basic materials company reported ($0.03) EPS for the quarter. On average, equities analysts expect that Uranium Energy Corp. will post 0.09 earnings per share for the current year.

Insider Activity at Uranium Energy

In other Uranium Energy news, CEO Amir Adnani purchased 60,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $4.10 per share, for a total transaction of $246,000.00. Following the completion of the transaction, the chief executive officer now owns 4,242,326 shares of the company’s stock, valued at approximately $17,393,536.60. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott Melbye purchased 9,500 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $4.18 per share, for a total transaction of $39,710.00. Following the purchase, the executive vice president now directly owns 988,031 shares in the company, valued at approximately $4,129,969.58. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Uranium Energy in the 3rd quarter worth approximately $12,643,000. Van ECK Associates Corp increased its stake in shares of Uranium Energy by 78.0% in the third quarter. Van ECK Associates Corp now owns 4,956,971 shares of the basic materials company’s stock worth $30,783,000 after purchasing an additional 2,171,468 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Uranium Energy during the 3rd quarter valued at $600,000. Riggs Asset Managment Co. Inc. bought a new position in Uranium Energy in the 3rd quarter worth $501,000. Finally, The Manufacturers Life Insurance Company increased its stake in Uranium Energy by 712.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,821,256 shares of the basic materials company’s stock worth $11,310,000 after buying an additional 1,597,108 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

Uranium Energy Company Profile

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.