BlackRock Fund Advisors recently announced the acquisition of new stake in Uranium Energy Corp. (AMEX:UEC). The institutional investor has increased its shareholding in the Energy company by 8.68% to 23.69 million shares with purchase of 1.89 million shares. This fresh investment now brings its stake to 6.28% valued currently at $102.35 million. In addition, The Vanguard Group, Inc. raised its holdings by 40645.0 to 20.45 million shares. And Global X Management Co. LLC has lifted its position by 8.88% or 1.56 million shares – to 19.09 million shares.
With over 18.91 million Uranium Energy Corp. (UEC) shares trading Friday and a closing price of $5.38 on the day, the dollar volume was approximately $101.76 million. The shares have shown a positive half year performance of 67.08% and its price on 09/15/23 lost nearly -0.74%. Currently, there are 375.76M common shares owned by the public and among those 370.85M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for UEC have a consensus price objective of $6.82. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $6.00. The average price target is 19.7% above its recent price level and an upside to the estimated low will see the stock gain 10.33% over that period. But an upside of 32.75% will see the stock hit the forecast high price target while median target price for the stock is $6.70.
The top 3 mutual fund holders in Uranium Energy Corp. are Global X Uranium ETF, Sprott Uranium Miners ETF, and Vanguard Total Stock Market ETF. Global X Uranium ETF owns 19.26 million shares of the company’s stock, all valued at over $83.2 million. The company bought an additional 0.47 million shares recently to bring their total holdings to about 5.10% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 3.03% of the shares outstanding.
Shares of Uranium Energy Corp. (AMEX: UEC) opened at $5.45, up $0.03 from a prior closing price of $5.42. However, the script later moved the day high at 5.55, down -0.74%. The company’s stock has a 5-day price change of 15.45% and 65.54% over the past three months. UEC shares are trading 38.66% year to date (YTD), with the 12-month market performance up to 30.27% higher. It has a 12-month low price of $2.30 and touched a high of $5.47 over the same period. UEC has an average intraday trading volume of 6.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.65%, 39.97%, and 57.00% respectively.
Institutional ownership of Uranium Energy Corp. (AMEX: UEC) shares accounts for 46.10% of the company’s 375.76M shares outstanding. Mutual fund holders own 30.77%, while other institutional holders and individual stakeholders account for 5.81% and 20.67% respectively.
It has a market capitalization of $2.05B and a beta (3y monthly) value of 2.01. The stock’s trailing 12-month PE ratio is 1076.00, while the earnings-per-share (ttm) stands at $0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.40% over the week and 4.90% over the month.
Analysts forecast that Uranium Energy Corp. (UEC) will achieve an EPS of $Ecopetrol S.A. for the current quarter, $12.54 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $United Microelectronics Corpora while analysts give the company a high EPS estimate of $WEC Energy Group, Inc.. Comparatively, EPS for the current quarter was $Universal Electronics Inc. a year ago. Earnings per share for the fiscal year are expected to increase by 126.60%, and -300.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Uranium Energy Corp. (UEC) as a “Strong Buy” at a consensus score of 1.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UEC, a number of firms have released research notes about the stock. TD Securities stated their Speculative Buy rating for the stock in a research note on September 13, 2023, with the firm’s price target at $6.
