HC Wainwright Analysts Give Uranium Energy (UEC) a $3.40 Price Target

Uranium Energy (NYSEAMERICAN:UEC) has been assigned a $3.40 price objective by investment analysts at HC Wainwright in a report issued on Tuesday, October 16th. The brokerage presently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price suggests a potential upside of 155.64% from the company’s current price.

The analysts wrote, “We maintain our Buy rating while lowering our per share price target to $3.40 from $3.60. We note that our lowered price target is solely due to a higher share count following the firm’s recent capital raise that was executed below our NAV. Our valuation is based on a DCF of future operations using an 8.0% discount rate.””

Shares of NYSEAMERICAN UEC traded down $0.08 during trading on Tuesday, hitting $1.33. 1,176,227 shares of the company traded hands, compared to its average volume of 1,136,281. Uranium Energy has a fifty-two week low of $1.20 and a fifty-two week high of $2.00.

A number of large investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC bought a new position in shares of Uranium Energy during the 2nd quarter valued at approximately $129,000. Rhumbline Advisers grew its position in shares of Uranium Energy by 29.9% during the 2nd quarter. Rhumbline Advisers now owns 147,530 shares of the basic materials company’s stock valued at $238,000 after acquiring an additional 33,921 shares during the period. SG Americas Securities LLC grew its position in shares of Uranium Energy by 24.8% during the 2nd quarter. SG Americas Securities LLC now owns 188,256 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 37,372 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Uranium Energy by 21.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 331,550 shares of the basic materials company’s stock valued at $534,000 after acquiring an additional 57,500 shares during the period. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Uranium Energy during the 3rd quarter valued at approximately $552,000.

About Uranium Energy

Uranium Energy Corp. operates as a uranium mining and exploration company. Its projects in South Texas include the Palangana ISR mine, the permitted Goliad ISR project, and the development-stage Burke Hollow ISR project; and project in Wyoming comprise the permitted Reno Creek ISR project. The company also controls a pipeline of advanced-stage uranium projects in Arizona, Colorado, New Mexico, and Paraguay, as well as a high-grade titanium project in Paraguay.

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