The Goldman Sachs Group Upgrades Uranium Energy (NYSEAMERICAN:UEC) to “Strong-Buy”

The Goldman Sachs Group upgraded shares of Uranium Energy (NYSEAMERICAN:UEC) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. HC Wainwright boosted their price objective on shares of Uranium Energy from $12.25 to $12.75 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. BMO Capital Markets assumed coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $7.75 price objective for the company. Five analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.61.

Uranium Energy Stock Up 0.4%

UEC opened at $10.26 on Tuesday. Uranium Energy has a 52-week low of $3.85 and a 52-week high of $10.88. The company has a 50 day moving average of $7.65 and a two-hundred day moving average of $6.42. The company has a market cap of $4.56 billion, a P/E ratio of -60.35 and a beta of 1.44.

Insider Buying and Selling at Uranium Energy

In other news, Director David Kong sold 50,800 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $9.62, for a total value of $488,696.00. Following the completion of the transaction, the director directly owned 182,237 shares in the company, valued at approximately $1,753,119.94. This represents a 21.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UEC. Versant Capital Management Inc bought a new position in Uranium Energy during the 1st quarter valued at $27,000. IFP Advisors Inc boosted its stake in Uranium Energy by 732.8% during the 2nd quarter. IFP Advisors Inc now owns 3,981 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 3,503 shares during the last quarter. Operose Advisors LLC bought a new position in Uranium Energy during the 2nd quarter valued at $34,000. Farther Finance Advisors LLC boosted its stake in Uranium Energy by 43.5% during the 1st quarter. Farther Finance Advisors LLC now owns 7,801 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 2,364 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Uranium Energy during the 1st quarter valued at $36,000. 62.28% of the stock is currently owned by hedge funds and other 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.