HITE Hedge Asset Management LLC Invests $2.87 Million in Ur Energy Inc $URG

HITE Hedge Asset Management LLC acquired a new stake in shares of Ur Energy Inc (NYSEAMERICAN:URG) (TSE:URE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,065,501 shares of the basic materials company’s stock, valued at approximately $2,871,000. HITE Hedge Asset Management LLC owned approximately 0.55% of Ur Energy as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in URG. AQR Capital Management LLC raised its position in Ur Energy by 382.9% during the first quarter. AQR Capital Management LLC now owns 130,294 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 103,315 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Ur Energy during the second quarter valued at approximately $38,000. Creative Planning bought a new position in Ur Energy during the second quarter valued at approximately $47,000. XTX Topco Ltd bought a new position in Ur Energy during the second quarter valued at approximately $160,000. Finally, Jump Financial LLC bought a new position in Ur Energy during the second quarter valued at approximately $73,000. Institutional investors own 57.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on URG. HC Wainwright reaffirmed a “buy” rating and set a $2.30 price objective on shares of Ur Energy in a research report on Monday, April 27th. Roth Mkm reaffirmed a “buy” rating and set a $2.00 price objective on shares of Ur Energy in a research report on Tuesday, May 12th. B. Riley Financial raised shares of Ur Energy to a “strong-buy” rating in a research report on Thursday, May 14th. Northland Securities set a $2.35 price target on shares of Ur Energy in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group started coverage on shares of Ur Energy in a research report on Thursday, April 2nd. They issued a “buy” rating and a $3.25 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, Ur Energy currently has an average rating of “Buy” and an average price target of $2.57.

Ur Energy Stock Performance

NYSEAMERICAN:URG opened at $1.57 on Friday. Ur Energy Inc has a 12 month low of $0.90 and a 12 month high of $2.35. The firm has a market cap of $623.81 million, a price-to-earnings ratio of -6.54 and a beta of 0.88. The company has a quick ratio of 3.63, a current ratio of 4.44 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $1.67 and its 200-day moving average is $1.59.

Insider Activity

In related news, VP Jade Walle acquired 107,900 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $1.39 per share, for a total transaction of $149,981.00. Following the completion of the purchase, the vice president owned 251,900 shares in the company, valued at approximately $350,141. The trade was a 74.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.63% of the company’s stock.

About Ur Energy

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.