Ur-Energy (NYSEAMERICAN:URG) Price Target Cut to $3.40

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) had its price objective reduced by investment analysts at HC Wainwright from $3.60 to $3.40 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s price target suggests a potential upside of 101.18% from the company’s previous close. HC Wainwright also issued estimates for Ur-Energy’s FY2024 earnings at $0.00 EPS and FY2025 earnings at $0.08 EPS.

A number of other equities analysts have also weighed in on the stock. B. Riley assumed coverage on shares of Ur-Energy in a research report on Friday, February 2nd. They set a “buy” rating and a $3.00 target price for the company. Roth Mkm cut their price objective on shares of Ur-Energy from $2.40 to $2.20 and set a “buy” rating for the company in a research report on Thursday, March 14th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, Ur-Energy presently has an average rating of “Moderate Buy” and a consensus price target of $2.87.

Ur-Energy Price Performance

Shares of NYSEAMERICAN:URG opened at $1.69 on Thursday. The stock has a market cap of $475.95 million, a price-to-earnings ratio of -14.08 and a beta of 1.11. Ur-Energy has a twelve month low of $0.84 and a twelve month high of $2.01.

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last issued its earnings results on Wednesday, March 6th. The basic materials company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $5.44 million during the quarter, compared to analyst estimates of $5.10 million. Ur-Energy had a negative net margin of 173.40% and a negative return on equity of 36.71%. Analysts predict that Ur-Energy will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Ur-Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Verity Asset Management Inc. raised its stake in Ur-Energy by 6.4% in the fourth quarter. Verity Asset Management Inc. now owns 198,137 shares of the basic materials company’s stock valued at $305,000 after purchasing an additional 12,005 shares in the last quarter. Jump Financial LLC purchased a new stake in Ur-Energy in the fourth quarter valued at approximately $109,000. Goehring & Rozencwajg Associates LLC raised its stake in Ur-Energy by 3.6% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 2,234,763 shares of the basic materials company’s stock valued at $3,442,000 after purchasing an additional 78,440 shares in the last quarter. Cannon Global Investment Management LLC purchased a new stake in Ur-Energy in the first quarter valued at approximately $224,000. Finally, U S Global Investors Inc. purchased a new stake in Ur-Energy in the fourth quarter valued at approximately $231,000. 57.51% of the stock is owned by hedge funds and other institutional investors.

Ur-Energy Company Profile

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.