NewGen Asset Management Ltd Purchases New Shares in Uranium Energy Corp. (NYSEAMERICAN:UEC)

NewGen Asset Management Ltd purchased a new stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the fourth quarter, HoldingsChannel reports. The fund purchased 450,000 shares of the basic materials company’s stock, valued at approximately $2,880,000. Uranium Energy accounts for approximately 1.5% of NewGen Asset Management Ltd’s portfolio, making the stock its 18th largest holding.

A number of other hedge funds also recently bought and sold shares of UEC. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Uranium Energy by 7.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,943,719 shares of the basic materials company’s stock valued at $146,840,000 after acquiring an additional 1,521,140 shares during the period. MMCAP International Inc. SPC raised its stake in shares of Uranium Energy by 59.4% in the third quarter. MMCAP International Inc. SPC now owns 21,427,711 shares of the basic materials company’s stock valued at $110,353,000 after acquiring an additional 7,987,736 shares during the period. Vanguard Group Inc. raised its stake in shares of Uranium Energy by 1.1% in the third quarter. Vanguard Group Inc. now owns 21,255,365 shares of the basic materials company’s stock valued at $109,465,000 after acquiring an additional 238,424 shares during the period. Alps Advisors Inc. raised its stake in shares of Uranium Energy by 16.8% in the third quarter. Alps Advisors Inc. now owns 14,889,161 shares of the basic materials company’s stock valued at $76,679,000 after acquiring an additional 2,142,316 shares during the period. Finally, FMR LLC raised its stake in shares of Uranium Energy by 5,187.7% in the third quarter. FMR LLC now owns 7,261,126 shares of the basic materials company’s stock valued at $37,395,000 after acquiring an additional 7,123,805 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Insiders Place Their Bets

In other Uranium Energy news, Director David Kong sold 26,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $6.81, for a total transaction of $177,060.00. Following the transaction, the director now directly owns 154,085 shares in the company, valued at approximately $1,049,318.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Eight Capital increased their target price on shares of Uranium Energy from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, January 15th. HC Wainwright increased their target price on shares of Uranium Energy from $8.25 to $9.75 and gave the company a “buy” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.80.

Uranium Energy Stock Performance

Shares of NYSEAMERICAN UEC traded up $0.09 during mid-day trading on Friday, reaching $7.21. The company had a trading volume of 4,839,765 shares, compared to its average volume of 5,961,319. The stock’s 50-day moving average price is $6.38. The firm has a market cap of $2.91 billion, a PE ratio of -721.00 and a beta of 1.83. Uranium Energy Corp. has a 52 week low of $2.44 and a 52 week high of $8.34.

Uranium Energy (NYSEAMERICAN:UEC) last posted its quarterly earnings results on Monday, March 11th. The basic materials company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $16.00 million. Uranium Energy had a negative net margin of 8.20% and a negative return on equity of 1.11%. As a group, sell-side analysts predict that Uranium Energy Corp. will post 0.08 earnings per share for the current year.

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.