Royal Bank of Canada Increases Holdings in Uranium Energy Corp. $UEC

Royal Bank of Canada boosted its stake in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 25.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,582 shares of the basic materials company’s stock after purchasing an additional 71,884 shares during the period. Royal Bank of Canada owned approximately 0.07% of Uranium Energy worth $4,718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in shares of Uranium Energy by 56.6% during the first quarter. AQR Capital Management LLC now owns 222,582 shares of the basic materials company’s stock worth $1,064,000 after purchasing an additional 80,464 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Uranium Energy in the first quarter valued at about $173,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Uranium Energy by 44.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,367,597 shares of the basic materials company’s stock valued at $6,537,000 after buying an additional 423,994 shares during the period. Focus Partners Wealth raised its holdings in shares of Uranium Energy by 114.0% during the 1st quarter. Focus Partners Wealth now owns 36,427 shares of the basic materials company’s stock valued at $174,000 after buying an additional 19,407 shares during the period. Finally, Cetera Investment Advisers lifted its position in Uranium Energy by 24.2% during the 2nd quarter. Cetera Investment Advisers now owns 80,807 shares of the basic materials company’s stock worth $549,000 after acquiring an additional 15,744 shares in the last quarter. 62.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UEC has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $26.75 price target on shares of Uranium Energy in a report on Wednesday, June 10th. The Goldman Sachs Group reiterated a “buy” rating and set a $16.00 price objective on shares of Uranium Energy in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.41.

Uranium Energy Price Performance

Shares of Uranium Energy stock opened at $11.19 on Friday. Uranium Energy Corp. has a 1-year low of $8.90 and a 1-year high of $20.34. The company has a market capitalization of $5.54 billion, a PE ratio of -93.25 and a beta of 1.22. The business has a 50-day moving average of $10.58 and a 200-day moving average of $13.23.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings results on Tuesday, June 9th. The basic materials company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). On average, equities analysts expect that Uranium Energy Corp. will post -0.15 earnings per share for the current fiscal year.

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.