Summit Financial LLC Takes Position in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Summit Financial LLC purchased a new stake in Uranium Energy Corp. (NYSEAMERICAN:UEC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 612,496 shares of the basic materials company's stock, valued at approximately $4,098,000. Summit Financial LLC owned approximately 0.14% of Uranium Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd grew its holdings in shares of Uranium Energy by 21.1% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 7,870 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 1,370 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Uranium Energy by 4.4% during the third quarter. Integrated Wealth Concepts LLC now owns 36,773 shares of the basic materials company's stock valued at $228,000 after purchasing an additional 1,560 shares during the last quarter. US Bancorp DE grew its stake in Uranium Energy by 7.7% in the fourth quarter. US Bancorp DE now owns 22,300 shares of the basic materials company's stock valued at $149,000 after purchasing an additional 1,600 shares in the last quarter. Arizona State Retirement System increased its position in shares of Uranium Energy by 1.4% during the 4th quarter. Arizona State Retirement System now owns 119,397 shares of the basic materials company's stock worth $799,000 after purchasing an additional 1,692 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Uranium Energy by 9.7% during the 4th quarter. Sei Investments Co. now owns 19,381 shares of the basic materials company's stock worth $130,000 after purchasing an additional 1,710 shares in the last quarter. 62.28% of the stock is owned by institutional investors and hedge funds.

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Uranium Energy Price Performance

Uranium Energy stock traded down $0.23 during trading hours on Friday, hitting $4.22. The company had a trading volume of 13,053,312 shares, compared to its average volume of 7,570,017. The firm has a 50-day moving average of $6.03 and a 200 day moving average of $6.71. The firm has a market cap of $1.79 billion, a PE ratio of -35.17 and a beta of 1.88. Uranium Energy Corp. has a one year low of $3.99 and a one year high of $8.93.

Analyst Ratings Changes

UEC has been the subject of several analyst reports. Stifel Nicolaus set a $10.50 target price on shares of Uranium Energy in a research note on Wednesday, March 12th. Stifel Canada raised shares of Uranium Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and set a $12.25 price objective on shares of Uranium Energy in a research note on Thursday, March 13th. National Bankshares set a $10.00 target price on shares of Uranium Energy and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Finally, National Bank Financial assumed coverage on Uranium Energy in a research report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 price target on the stock. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Uranium Energy has a consensus rating of "Buy" and a consensus price target of $10.60.

Uranium Energy 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.