MM Asset Management, Inc. 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 59.43% to 21.43 million shares with purchase of 7.99 million shares. This fresh investment now brings its stake to 5.45% valued currently at $137.14 million. In addition, Global X Management Co. LLC raised its holdings by 1.87 million to 20.96 million shares. And The Vanguard Group, Inc. has lifted its position by 1.11% or 0.23 million shares – to 20.67 million shares.
With over 29.09 million Uranium Energy Corp (UEC) shares trading Friday and a closing price of $7.77 on the day, the dollar volume was approximately $226.03 million. The shares have shown a positive half year performance of 149.04% and its price on 01/12/24 gained nearly 12.12%. Currently, there are 392.98M common shares owned by the public and among those 384.18M 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: 3 analysts who have offered their price forecasts for UEC have a consensus price objective of $8.08. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $7.50. The average price target is 3.84% above its recent price level and a downside to the estimated low will see the stock lose -3.6% over that period. But an upside of 8.59% will see the stock hit the forecast high price target while median target price for the stock is $8.25.
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 20.79 million shares of the company’s stock, all valued at over $133.05 million. Sprott Uranium Miners ETF bought 29864.0 shares to see its total holdings expand to 13.08 million shares valued at over $83.72 million and representing 3.33% of the shares outstanding. Vanguard Total Stock Market ETF bought 17811.0 shares to bring its total holdings to over 11.81 million shares at a value of $75.6 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.01% of the shares outstanding.
Shares of Uranium Energy Corp (AMEX: UEC) opened at $7.20, up $0.27 from a prior closing price of $6.93. However, the script later moved the day high at 7.82, up 12.12%. The company’s stock has a 5-day price change of 21.22% and 52.05% over the past three months. UEC shares are trading 21.41% year to date (YTD), with the 12-month market performance up to 97.21% higher. It has a 12-month low price of $2.30 and touched a high of $7.08 over the same period. UEC has an average intraday trading volume of 7.28 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 19.12%, 22.70%, and 77.99% respectively.
Institutional ownership of Uranium Energy Corp (AMEX: UEC) shares accounts for 53.36% of the company’s 392.98M shares outstanding. Mutual fund holders own 36.42%, while other institutional holders and individual stakeholders account for 5.58% and 17.60% respectively.
It has a market capitalization of $3.05B and a beta (3y monthly) value of 1.89. The stock’s trailing 12-month PE ratio is 817.89, 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 5.99% over the week and 5.80% over the month.
Analysts forecast that Uranium Energy Corp (UEC) will achieve an EPS of $0.01 for the current quarter, $0.01 for the next quarter and $0.01 for 2025. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to increase by 266.67%, and -10.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate Uranium Energy Corp (UEC) as a “Strong Buy” at a consensus score of 1.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 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.
