Ur-Energy Inc. (NYSEAMERICAN:URG) Sees Large Drop in Short Interest

Ur-Energy Inc. (NYSEAMERICAN:URG) (TSE:URE) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 14,620,000 shares, a drop of 21.2% from the October 15th total of 18,550,000 shares. Approximately 4.3% of the company’s shares are short sold. Based on an average daily volume of 3,770,000 shares, the short-interest ratio is currently 3.9 days.

Ur-Energy Trading Up 0.8 %

Shares of URG stock traded up $0.01 during mid-day trading on Friday, hitting $1.25. The stock had a trading volume of 6,266,582 shares, compared to its average volume of 3,825,487. Ur-Energy has a 12-month low of $0.96 and a 12-month high of $2.01.

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $6.40 million during the quarter, compared to analysts’ expectations of $9.67 million. Equities research analysts predict that Ur-Energy will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

URG has been the topic of several research analyst reports. B. Riley cut their price objective on Ur-Energy from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Roth Mkm restated a “buy” rating and issued a $2.20 price target (up from $1.90) on shares of Ur-Energy in a report on Wednesday, October 23rd. Finally, HC Wainwright reduced their price target on shares of Ur-Energy from $3.20 to $2.70 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2.30.

Insider Activity

In other Ur-Energy news, Director Gary C. Huber sold 97,628 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $1.23, for a total transaction of $120,082.44. Following the completion of the transaction, the director now owns 404,869 shares in the company, valued at $497,988.87. The trade was a 19.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Roger L. Smith sold 228,119 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $1.20, for a total value of $273,742.80. Following the completion of the sale, the chief financial officer now owns 613,061 shares in the company, valued at approximately $735,673.20. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 605,480 shares of company stock valued at $726,708 in the last ninety days. Insiders own 3.29% of the company’s stock.

Hedge Funds Weigh In On Ur-Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. bought a new position in Ur-Energy in the second quarter worth approximately $25,000. FMR LLC grew its position in shares of Ur-Energy by 1,864.0% in the 3rd quarter. FMR LLC now owns 29,519 shares of the basic materials company’s stock worth $35,000 after buying an additional 28,016 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Ur-Energy during the 2nd quarter worth approximately $51,000. Tidal Investments LLC purchased a new stake in Ur-Energy during the first quarter valued at approximately $65,000. Finally, Intech Investment Management LLC acquired a new stake in Ur-Energy in the third quarter valued at approximately $73,000. 57.51% of the stock is currently owned by institutional investors.

About Ur-Energy

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.