Hsbc Holdings PLC Purchases Shares of 244,565 Uranium Energy Corp. $UEC

Hsbc Holdings PLC acquired a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 244,565 shares of the basic materials company’s stock, valued at approximately $2,857,000.

Several other hedge funds have also recently added to or reduced their stakes in UEC. Independent Wealth Network Inc. lifted its stake in Uranium Energy by 2.0% in the fourth quarter. Independent Wealth Network Inc. now owns 30,514 shares of the basic materials company’s stock worth $356,000 after acquiring an additional 597 shares during the last quarter. Clear Creek Financial Management LLC lifted its position in shares of Uranium Energy by 2.3% during the 4th quarter. Clear Creek Financial Management LLC now owns 28,949 shares of the basic materials company’s stock worth $338,000 after purchasing an additional 655 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Uranium Energy by 5.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,778 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 778 shares during the last quarter. Heritage Family Offices LLP grew its stake in shares of Uranium Energy by 5.2% during the fourth quarter. Heritage Family Offices LLP now owns 15,785 shares of the basic materials company’s stock worth $184,000 after purchasing an additional 785 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Uranium Energy by 1.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 58,791 shares of the basic materials company’s stock worth $687,000 after purchasing an additional 809 shares in the last quarter. Institutional investors and hedge funds own 62.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UEC. The Goldman Sachs Group restated a “buy” rating and issued a $16.00 price target on shares of Uranium Energy in a research note on Tuesday, June 9th. HC Wainwright reaffirmed a “buy” rating and set a $26.75 price objective on shares of Uranium Energy in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Uranium Energy currently has an average rating of “Moderate Buy” and an average target price of $17.41.

Uranium Energy Price Performance

NYSEAMERICAN UEC opened at $10.53 on Friday. The firm’s fifty day moving average price is $12.52 and its 200 day moving average price is $14.04. Uranium Energy Corp. has a 12 month low of $6.07 and a 12 month high of $20.34. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -87.75 and a beta of 1.18.

Uranium Energy (NYSEAMERICAN:UEC) last announced its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). As a group, sell-side analysts forecast that Uranium Energy Corp. will post -0.15 earnings per share for the current year.

Uranium Energy Profile

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.