Uranium Energy (NYSEAMERICAN:UEC) Reaches New 12-Month High – Here’s What Happened

Uranium Energy Corp. (NYSEAMERICAN:UEC)’s stock price hit a new 52-week high on Thursday . The company traded as high as $17.83 and last traded at $17.8030, with a volume of 3633288 shares traded. The stock had previously closed at $17.19.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UEC. The Goldman Sachs Group boosted their price objective on shares of Uranium Energy from $13.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 26th. Roth Capital reissued a “buy” rating and set a $16.00 price target on shares of Uranium Energy in a report on Thursday, December 11th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $14.00 price objective (up previously from $7.75) on shares of Uranium Energy in a report on Thursday, September 25th. National Bankshares increased their target price on Uranium Energy from $15.50 to $16.50 and gave the company an “outperform” rating in a report on Friday, December 19th. Finally, Stifel Canada raised Uranium Energy to a “strong-buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Uranium Energy has an average rating of “Buy” and a consensus target price of $14.92.

Uranium Energy Stock Up 2.0%

The stock has a market capitalization of $8.47 billion, a PE ratio of -146.31 and a beta of 1.23. The stock’s 50 day moving average price is $12.77 and its 200-day moving average price is $11.71.

Hedge Funds Weigh In On Uranium Energy

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc raised its stake in Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 3,503 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Uranium Energy during the third quarter valued at approximately $33,000. Operose Advisors LLC purchased a new position in shares of Uranium Energy in the second quarter worth $34,000. Strategic Advocates LLC bought a new position in shares of Uranium Energy during the third quarter worth $40,000. Finally, GPS Wealth Strategies Group LLC grew its stake in Uranium Energy by 31.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 4,654 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 62.28% of the company’s stock.

About Uranium Energy

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.