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

Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC - Get Free Report) shot up 6% on Monday . The company traded as high as $5.41 and last traded at $5.39. 649,251 shares traded 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.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. National Bank Financial started coverage on Uranium Energy in a report on Wednesday, February 12th. They set an "outperform" rating and a $10.00 target price on the stock. Stifel Nicolaus set a $10.50 target price on Uranium Energy in a report on Wednesday, March 12th. National Bankshares set a $10.00 price target on shares of Uranium Energy and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Stifel Canada upgraded Uranium Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and issued a $12.25 price target on shares of Uranium Energy in a research note on Thursday, March 13th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $10.60.

Uranium Energy Stock Down 1.6 %

The stock has a market cap of $2.34 billion, a P/E ratio of -46.08 and a beta of 1.88. The business's 50-day simple moving average is $6.52 and its two-hundred day simple moving average is $6.85.

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Hedge Funds Weigh In On Uranium Energy

Large investors have recently added to or reduced their stakes in the business. Harbour Investments Inc. increased its position in shares of Uranium Energy by 947.4% during the fourth quarter. Harbour Investments Inc. now owns 3,886 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 3,515 shares in the last quarter. GAMMA Investing LLC raised its stake in Uranium Energy by 180.1% during the 4th quarter. GAMMA Investing LLC now owns 4,338 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 2,789 shares during the period. Generali Investments Management Co LLC purchased a new stake in Uranium Energy in the 4th quarter worth $30,000. BNP Paribas bought a new stake in Uranium Energy in the 3rd quarter worth approximately $38,000. Finally, National Bank of Canada FI raised its position in shares of Uranium Energy by 29.7% during the 3rd quarter. National Bank of Canada FI now owns 7,485 shares of the basic materials company's stock valued at $46,000 after buying an additional 1,713 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company's stock.

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.