Uranium Resources, Inc. (URRE) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Uranium Resources, Inc. (NASDAQ:URRE) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $1.75 price target on the basic materials company’s stock.

According to Zacks, “Uranium Resources, Inc. was formed in 1977 and incorporated in the state of Delaware in 1987 to acquire, explore and develop properties for the mining of uranium (hereinafter sometimes referred to as U3 08) in the United States using the in situ leach mining process (ISL). The Company has two developed mining properties – Kingsville Dome and Rosita – both located in South Texas. “

A number of other brokerages have also issued reports on URRE. Roth Capital set a $3.00 target price on shares of Uranium Resources and gave the company a buy rating in a research note on Saturday, March 18th. ValuEngine lowered shares of Uranium Resources from a sell rating to a strong sell rating in a research note on Wednesday, June 7th.

Uranium Resources (NASDAQ:URRE) opened at 1.31 on Wednesday. The firm’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.78. The stock’s market cap is $32.09 million. Uranium Resources has a one year low of $0.97 and a one year high of $4.00.

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Large investors have recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in shares of Uranium Resources during the first quarter worth about $293,000. Dimensional Fund Advisors LP bought a new stake in shares of Uranium Resources during the first quarter worth about $388,000. Geode Capital Management LLC raised its stake in shares of Uranium Resources by 546.1% in the first quarter. Geode Capital Management LLC now owns 165,848 shares of the basic materials company’s stock worth $311,000 after buying an additional 140,179 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Uranium Resources by 76.8% in the first quarter. Vanguard Group Inc. now owns 252,168 shares of the basic materials company’s stock worth $474,000 after buying an additional 109,501 shares during the period. Institutional investors and hedge funds own 6.03% of the company’s stock.

Uranium Resources Company Profile

Uranium Resources, Inc is engaged in developing energy-related metals. As of December 16, 2016, the Company had developed land position in two prospective lithium brine basins in Nevada and Utah in preparation for exploration and development of any resources that may be discovered there. In addition, it remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey when uranium prices permit economic development of this project.

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