Van ECK Associates Corp Increases Position in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Van ECK Associates Corp increased its holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 64.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,785,503 shares of the basic materials company’s stock after acquiring an additional 1,095,268 shares during the quarter. Van ECK Associates Corp’s holdings in Uranium Energy were worth $16,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Uranium Energy during the 4th quarter worth $96,000,000. Charles Schwab Investment Management Inc. grew its stake in Uranium Energy by 4.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,006,974 shares of the basic materials company’s stock worth $19,245,000 after purchasing an additional 118,785 shares in the last quarter. UBS Group AG increased its holdings in Uranium Energy by 35.7% in the fourth quarter. UBS Group AG now owns 996,345 shares of the basic materials company’s stock valued at $6,377,000 after buying an additional 262,262 shares during the last quarter. ProShare Advisors LLC increased its holdings in Uranium Energy by 10.6% in the first quarter. ProShare Advisors LLC now owns 69,268 shares of the basic materials company’s stock valued at $468,000 after buying an additional 6,643 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Uranium Energy by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 22,222,813 shares of the basic materials company’s stock valued at $142,226,000 after buying an additional 967,448 shares in the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Price Performance

NYSEAMERICAN:UEC opened at $5.23 on Monday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -174.33 and a beta of 1.86. Uranium Energy Corp. has a 52 week low of $4.12 and a 52 week high of $8.34. The company’s 50 day moving average is $6.60.

Uranium Energy (NYSEAMERICAN:UEC) last issued its quarterly earnings data on Friday, June 7th. The basic materials company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Uranium Energy had a negative return on equity of 3.05% and a negative net margin of 8.20%. On average, sell-side analysts forecast that Uranium Energy Corp. will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on UEC shares. Roth Mkm reiterated a “buy” rating and issued a $9.00 target price on shares of Uranium Energy in a research report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $10.25 price objective on shares of Uranium Energy in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.35.

About Uranium Energy

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.