Uranium Energy (NYSEAMERICAN:UEC) Shares Up 6.1% – Still a Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) shares shot up 6.1% during trading on Friday . The stock traded as high as $8.59 and last traded at $8.58. 1,250,042 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 7,649,573 shares. The stock had previously closed at $8.09.

Analysts Set New Price Targets

UEC has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $10.25 target price on shares of Uranium Energy in a report on Tuesday, September 24th. Roth Mkm reiterated a “buy” rating and issued a $10.25 price objective (up previously from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd.

Uranium Energy Trading Up 3.1 %

The stock has a 50-day moving average price of $6.44. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -142.81 and a beta of 1.82.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share for the quarter. As a group, analysts predict that Uranium Energy Corp. will post 0.09 earnings per share for the current year.

Insider Activity

In other Uranium Energy news, CEO Amir Adnani acquired 60,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $4.10 per share, with a total value of $246,000.00. Following the purchase, the chief executive officer now directly owns 4,242,326 shares of the company’s stock, valued at approximately $17,393,536.60. This represents a 1.43 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Melbye acquired 9,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $4.18 per share, with a total value of $39,710.00. Following the completion of the purchase, the executive vice president now directly owns 988,031 shares of the company’s stock, valued at $4,129,969.58. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Uranium Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Uranium Energy during the 3rd quarter valued at about $12,643,000. Van ECK Associates Corp lifted its holdings in shares of Uranium Energy by 78.0% in the 3rd quarter. Van ECK Associates Corp now owns 4,956,971 shares of the basic materials company’s stock worth $30,783,000 after buying an additional 2,171,468 shares during the period. Riggs Asset Managment Co. Inc. bought a new position in shares of Uranium Energy during the 3rd quarter worth $501,000. Riverwater Partners LLC bought a new stake in shares of Uranium Energy in the third quarter valued at about $2,341,000. Finally, Grimes & Company Inc. purchased a new stake in Uranium Energy in the third quarter worth about $394,000. 62.28% of the stock is owned by hedge funds and other institutional investors.

About Uranium Energy

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.