Uranium Energy (NYSEAMERICAN:UEC) Shares Up 6% – Still a Buy?

Uranium Energy Corp. (NYSEAMERICAN:UEC) traded up 6% on Monday . The stock traded as high as $5.41 and last traded at $5.39. 649,251 shares changed hands during trading, a decline of 92% from the average session volume of 7,747,881 shares. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UEC. National Bankshares set a $10.00 target price on Uranium Energy and gave the company an “outperform” rating in a research note on Wednesday, February 12th. National Bank Financial assumed coverage on Uranium Energy in a report on Wednesday, February 12th. They issued an “outperform” rating and a $10.00 price objective for the company. Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Stifel Nicolaus assumed coverage on shares of Uranium Energy in a research note on Wednesday, March 12th. They issued a “buy” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $12.25 price target on shares of Uranium Energy in a research note on Thursday. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Uranium Energy presently has an average rating of “Buy” and a consensus price target of $10.63.

Uranium Energy Trading Up 6.6 %

The stock has a fifty day simple moving average of $6.64 and a two-hundred day simple moving average of $6.89. The firm has a market cap of $2.29 billion, a PE ratio of -45.13 and a beta of 1.88.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Uranium Energy by 1.2% during the third quarter. Victory Capital Management Inc. now owns 3,554,149 shares of the basic materials company’s stock worth $22,071,000 after purchasing an additional 42,904 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Uranium Energy in the third quarter valued at approximately $12,643,000. Intech Investment Management LLC bought a new stake in Uranium Energy during the third quarter valued at approximately $600,000. Charles Schwab Investment Management Inc. grew its stake in Uranium Energy by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,320,496 shares of the basic materials company’s stock worth $20,620,000 after buying an additional 90,098 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Uranium Energy by 712.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,821,256 shares of the basic materials company’s stock worth $11,310,000 after buying an additional 1,597,108 shares during the last quarter. 62.28% of the stock is owned by institutional investors.

Uranium Energy Company Profile

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.