Zacks Investment Research Upgrades Uranium Energy Corp. (UEC) to Buy

Zacks Investment Research upgraded shares of Uranium Energy Corp. (NYSEMKT:UEC) from a hold rating to a buy rating in a report released on Wednesday morning. The brokerage currently has $1.50 price objective on the basic materials company’s stock.

According to Zacks, “Uranium Energy Corp is a US-based junior resource company with the objective of becoming a near-term ISR uranium producer in the United States. The Company controls one of the largest historical uranium exploration and development databases in the US. Through the use of these databases, the Company has acquired advanced uranium properties throughout the southwestern US. The operational management is comprised of pre-eminent uranium mining and exploration professionals, whose collective experience in the uranium mining industry gives the Company ongoing uranium mine-finding and uranium mine development expertise. Uranium Energy Corp is well positioned to capitalize on the current alternative energy boom. “

Shares of Uranium Energy Corp. (NYSEMKT:UEC) opened at 1.33 on Wednesday. The stock has a 50 day moving average price of $1.56 and a 200 day moving average price of $1.47. Uranium Energy Corp. has a 12-month low of $0.81 and a 12-month high of $1.92. The firm’s market capitalization is $184.44 million.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sprott Inc. bought a new position in shares of Uranium Energy Corp. during the first quarter worth approximately $295,000. JPMorgan Chase & Co. increased its position in shares of Uranium Energy Corp. by 50.3% in the first quarter. JPMorgan Chase & Co. now owns 5,400,192 shares of the basic materials company’s stock worth $7,669,000 after buying an additional 1,807,776 shares during the last quarter. Segantii Capital Management Ltd bought a new position in shares of Uranium Energy Corp. during the first quarter worth approximately $257,000. SG Americas Securities LLC increased its position in shares of Uranium Energy Corp. by 37.0% in the first quarter. SG Americas Securities LLC now owns 240,674 shares of the basic materials company’s stock worth $342,000 after buying an additional 64,943 shares during the last quarter. Finally, KCG Holdings Inc. increased its position in shares of Uranium Energy Corp. by 949.2% in the first quarter. KCG Holdings Inc. now owns 116,422 shares of the basic materials company’s stock worth $165,000 after buying an additional 105,326 shares during the last quarter.

About Uranium Energy Corp.

Uranium Energy Corp. is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates, on projects located in the United States and Paraguay. The Company utilizes in-situ recovery (ISR) mining. The Company has uranium mine located in the state of Texas, the Palangana Mine, which utilizes ISR mining and extracts uranium oxide (U3O8).

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