Uranium Energy (NYSEAMERICAN:UEC) Reaches New 52-Week High – Here’s Why

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.17 and last traded at $15.05, with a volume of 6756415 shares. The stock had previously closed at $13.55.

Analysts Set New Price Targets

UEC has been the topic of several analyst reports. HC Wainwright lifted their price target on shares of Uranium Energy from $12.75 to $19.75 and gave the stock a “buy” rating in a research note on Thursday, September 25th. TD Securities lifted their price target on shares of Uranium Energy from $8.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. The Goldman Sachs Group lifted their price target on shares of Uranium Energy from $13.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $14.00 price target (up previously from $7.75) on shares of Uranium Energy in a research note on Thursday, September 25th. Finally, Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.80.

Uranium Energy Trading Up 8.1%

The company’s 50-day moving average price is $11.69 and its two-hundred day moving average price is $8.02. The company has a market cap of $7.08 billion, a P/E ratio of -86.17 and a beta of 1.40.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the sale, the director owned 182,237 shares of the company’s stock, valued at approximately $1,753,119.94. The trade was a 21.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Uranium Energy

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Uranium Energy by 1,954.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 153,614 shares of the basic materials company’s stock valued at $1,045,000 after buying an additional 146,138 shares during the last quarter. Ballentine Partners LLC boosted its stake in Uranium Energy by 207.5% during the 2nd quarter. Ballentine Partners LLC now owns 31,476 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 21,241 shares during the period. Harbour Capital Advisors LLC acquired a new position in Uranium Energy during the 2nd quarter valued at about $310,000. Titan Global Capital Management USA LLC acquired a new position in Uranium Energy during the 1st quarter valued at about $6,891,000. Finally, General American Investors Co. Inc. acquired a new position in Uranium Energy during the 1st quarter valued at about $5,296,000. 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.