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.
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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