Zacks Investment Research upgraded shares of Uranium Energy (NYSEAMERICAN:UEC) from a hold rating to a buy rating in a research report released on Saturday, June 9th. They currently have $2.00 target price on the basic materials company’s stock.
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. “
Separately, HC Wainwright set a $4.00 target price on Uranium Energy and gave the stock a buy rating in a research note on Monday, February 12th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Uranium Energy has a consensus rating of Hold and an average price target of $2.87.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Uranium Energy by 2.8% in the 1st quarter. Northern Trust Corp now owns 1,501,890 shares of the basic materials company’s stock worth $1,968,000 after purchasing an additional 40,663 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Uranium Energy by 230.6% in the 4th quarter. Wells Fargo & Company MN now owns 87,304 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 60,893 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Uranium Energy in the 4th quarter worth approximately $126,000. Quad Capital Management Advisors LLC bought a new stake in shares of Uranium Energy in the 4th quarter worth approximately $147,000. Finally, BlackRock Inc. boosted its position in shares of Uranium Energy by 1.2% in the 4th quarter. BlackRock Inc. now owns 8,148,427 shares of the basic materials company’s stock worth $14,423,000 after purchasing an additional 92,848 shares in the last quarter.
Uranium Energy Company Profile
Uranium Energy Corp. operates as a uranium mining and exploration company. Its projects in South Texas include the Palangana ISR mine, the permitted Goliad ISR project, and the development-stage Burke Hollow ISR project; and project in Wyoming comprise the permitted Reno Creek ISR project. The company also controls a pipeline of advanced-stage uranium projects in Arizona, Colorado, New Mexico, and Paraguay, as well as a high-grade titanium project in Paraguay.
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