Uranium Energy (NYSEAMERICAN:UEC) Stock Rating Upgraded by The Goldman Sachs Group

Uranium Energy (NYSEAMERICAN:UEC) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on UEC. BMO Capital Markets initiated coverage on Uranium Energy in a research report on Tuesday, June 3rd. They issued an “outperform” rating and a $7.75 target price for the company. HC Wainwright raised their target price on Uranium Energy from $12.25 to $12.75 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Five equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uranium Energy presently has a consensus rating of “Buy” and an average price target of $10.61.

Uranium Energy Price Performance

NYSEAMERICAN:UEC opened at $10.22 on Tuesday. The business has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $6.39. Uranium Energy has a 1 year low of $3.85 and a 1 year high of $10.88. The company has a market capitalization of $4.54 billion, a P/E ratio of -60.11 and a beta of 1.44.

Insider Activity at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the transaction, the director directly owned 182,237 shares of the company’s stock, valued at $1,753,119.94. This trade represents a 21.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Uranium Energy

Several large investors have recently added to or reduced their stakes in UEC. LPL Financial LLC lifted its stake in Uranium Energy by 78.3% during the fourth quarter. LPL Financial LLC now owns 182,338 shares of the basic materials company’s stock worth $1,220,000 after purchasing an additional 80,063 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Uranium Energy by 15.0% during the fourth quarter. Wells Fargo & Company MN now owns 753,643 shares of the basic materials company’s stock worth $5,042,000 after purchasing an additional 98,130 shares during the last quarter. Invesco Ltd. lifted its stake in Uranium Energy by 134.1% during the fourth quarter. Invesco Ltd. now owns 942,851 shares of the basic materials company’s stock worth $6,308,000 after purchasing an additional 540,049 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Uranium Energy during the fourth quarter worth about $8,524,000. Finally, Raymond James Financial Inc. bought a new stake in Uranium Energy during the fourth quarter worth about $1,007,000. Institutional investors own 62.28% of the company’s stock.

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.