Ur Energy (NYSEAMERICAN:URG) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Ur Energy (NYSEAMERICAN:URG) (TSE:URE) in a report published on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $3.25 target price on the basic materials company’s stock.

Separately, HC Wainwright dropped their price objective on Ur Energy from $2.60 to $2.30 and set a “buy” rating on the stock in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $2.50.

Ur Energy Stock Performance

NYSEAMERICAN:URG opened at $1.52 on Thursday. The firm has a 50-day moving average of $1.60 and a two-hundred day moving average of $1.56. The company has a debt-to-equity ratio of 0.87, a current ratio of 5.44 and a quick ratio of 4.56. The stock has a market cap of $585.15 million, a P/E ratio of -7.60 and a beta of 0.84. Ur Energy has a 1-year low of $0.55 and a 1-year high of $2.35.

Insider Buying and Selling at Ur Energy

In related news, VP Jade Walle bought 107,900 shares of the company’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average price of $1.39 per share, with a total value of $149,981.00. Following the transaction, the vice president owned 251,900 shares of the company’s stock, valued at approximately $350,141. This trade represents a 74.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.86% of the company’s stock.

Hedge Funds Weigh In On Ur Energy

A number of hedge funds have recently bought and sold shares of URG. AQR Capital Management LLC increased its holdings in Ur Energy by 382.9% in the first quarter. AQR Capital Management LLC now owns 130,294 shares of the basic materials company’s stock valued at $88,000 after buying an additional 103,315 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Ur Energy in the 2nd quarter worth approximately $38,000. Creative Planning acquired a new position in shares of Ur Energy in the 2nd quarter worth approximately $47,000. XTX Topco Ltd bought a new stake in shares of Ur Energy in the 2nd quarter valued at approximately $160,000. Finally, Jump Financial LLC bought a new stake in shares of Ur Energy in the 2nd quarter valued at approximately $73,000. 57.51% of the stock is currently owned by institutional investors and hedge funds.

Ur Energy Company Profile

Ur-Energy Inc is a U.S.‐based uranium mining company focused on the exploration, development and production of uranium to serve the global nuclear power industry. The company’s core expertise centers on in situ recovery (ISR) mining techniques, which involve the extraction of uranium from sandstone formations using a low-environmental-impact process that recovers uranium in solution. Through this approach, Ur-Energy strives to maintain efficient production while minimizing surface disturbance, water usage and waste generation.

The company’s flagship asset is the Lost Creek Project in Wyoming’s Great Divide Basin, which commenced commercial production in 2013.