Uranium Energy (NYSEAMERICAN:UEC) Stock Price Expected to Rise, National Bankshares Analyst Says

Uranium Energy (NYSEAMERICAN:UEC) had its price target upped by research analysts at National Bankshares from $15.50 to $16.50 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bankshares’ price target would indicate a potential upside of 33.17% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Zacks Research upgraded Uranium Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a research report on Friday, October 3rd. Roth Capital reiterated a “buy” rating and set a $16.00 target price on shares of Uranium Energy in a research report on Thursday, December 11th. Canaccord Genuity Group set a $17.50 price target on shares of Uranium Energy and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Stifel Nicolaus began coverage on shares of Uranium Energy in a research report on Monday, October 6th. They set a “buy” rating and a $10.50 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.92.

Uranium Energy Price Performance

UEC opened at $12.39 on Friday. The firm has a fifty day moving average price of $13.16 and a 200 day moving average price of $10.83. Uranium Energy has a 1 year low of $3.85 and a 1 year high of $17.80. The stock has a market cap of $5.99 billion, a P/E ratio of -103.25 and a beta of 1.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Uranium Energy by 34.5% during the third quarter. Vanguard Group Inc. now owns 35,726,216 shares of the basic materials company’s stock worth $476,588,000 after buying an additional 9,159,024 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Uranium Energy by 9.9% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,599,686 shares of the basic materials company’s stock worth $354,847,000 after acquiring an additional 2,393,683 shares during the last quarter. State Street Corp grew its stake in Uranium Energy by 9.5% during the 2nd quarter. State Street Corp now owns 23,046,686 shares of the basic materials company’s stock valued at $156,717,000 after acquiring an additional 2,000,516 shares in the last quarter. Norges Bank purchased a new stake in Uranium Energy during the 2nd quarter valued at about $105,058,000. Finally, Geode Capital Management LLC raised its holdings in Uranium Energy by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 9,902,310 shares of the basic materials company’s stock valued at $67,344,000 after acquiring an additional 289,662 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

About Uranium Energy

Uranium Energy Corp. is a uranium mining and exploration company focused on the development and production of uranium through in-situ recovery (ISR) methods. The company’s core activities include operating ISR projects, advancing exploration properties, and engaging in joint ventures to secure uranium supply for nuclear power generation. Uranium Energy’s approach emphasizes environmentally conscious extraction techniques that minimize land disturbance and water usage compared with conventional mining.

The company’s primary producing asset is the Hobson ISR facility in South Texas, which commenced production to supply uranium concentrate to nuclear utilities.