Uranium Energy (NYSEAMERICAN:UEC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Uranium Energy Corp is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. “
Several other analysts also recently weighed in on the company. HC Wainwright set a $4.00 price target on Uranium Energy and gave the stock a “buy” rating in a research note on Monday, February 12th. Cantor Fitzgerald downgraded Uranium Energy from a “buy” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Roth Capital assumed coverage on Uranium Energy in a research note on Wednesday, October 25th. They issued a “buy” rating and a $3.00 price target on the stock. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.83.
Shares of Uranium Energy (UEC) opened at $1.43 on Friday. The firm has a market capitalization of $223.30, a P/E ratio of -11.00 and a beta of 1.72. Uranium Energy has a 52 week low of $0.96 and a 52 week high of $2.00.
Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Monday, December 11th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.01).
A number of institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co. LLC boosted its stake in Uranium Energy by 23.5% during the 4th quarter. Global X Management Co. LLC now owns 9,334,591 shares of the basic materials company’s stock valued at $16,522,000 after purchasing an additional 1,773,871 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Uranium Energy by 1.2% during the 4th quarter. BlackRock Inc. now owns 8,148,427 shares of the basic materials company’s stock valued at $14,423,000 after buying an additional 92,848 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Uranium Energy by 12.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,485,254 shares of the basic materials company’s stock valued at $8,721,000 after buying an additional 596,975 shares during the period. State Street Corp lifted its holdings in shares of Uranium Energy by 3,975.8% during the 2nd quarter. State Street Corp now owns 1,774,011 shares of the basic materials company’s stock valued at $2,818,000 after buying an additional 1,730,485 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Uranium Energy by 441.2% during the 2nd quarter. Northern Trust Corp now owns 1,517,722 shares of the basic materials company’s stock valued at $2,413,000 after buying an additional 1,237,289 shares during the period.
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Uranium Energy Company Profile
Uranium Energy Corp. is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates, on projects located in the United States and Paraguay. The Company utilizes in-situ recovery (ISR) mining. The Company has uranium mine located in the state of Texas, the Palangana Mine, which utilizes ISR mining and extracts uranium oxide (U3O8).
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