Canaccord Genuity slashes price target on Uranium Energy Corp. [UEC] – find out why.

Uranium Energy Corp. [AMEX: UEC] stock went on an upward path that rose over 3.04% on Friday, amounting to a one-week price increase of more than 8.53%. The company report on January 25, 2023 that Uranium Energy Corp Receives $17.85 Million from the U.S. Department of Energy for Supplying 300,000 lbs. U3O8 at $59.50/lb. to the Strategic Uranium Reserve Program.

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NYSE American: UEC.

Uranium Energy Corp (NYSE American: UEC) (the “Company” or “UEC”) is pleased to announce it has received $17.85 million from the U.S. Department of Energy (“DOE”) for supplying 300,000 pounds of U.S. origin uranium concentrates at $59.50/lb. to the DOE – National Nuclear Security Administration (“NNSA”) under the contract awarded to the Company announced on December 20, 2022. The award was in response to the NNSA’s Request for Proposals to establish its strategic national Uranium Reserve program. Please see the Company’s press release dated December 20, 2022 for further details on the Uranium Reserve program.

Over the last 12 months, UEC stock rose by 53.58%. The one-year Uranium Energy Corp. stock forecast points to a potential upside of 40.76. The average equity rating for UEC stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.46 billion, with 369.80 million shares outstanding and 363.53 million shares in the current float. Compared to the average trading volume of 7.96M shares, UEC stock reached a trading volume of 11184918 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Uranium Energy Corp. [UEC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UEC shares is $6.87 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UEC stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Canaccord Genuity have made an estimate for Uranium Energy Corp. shares, keeping their opinion on the stock as Speculative Buy, with their previous recommendation back on June 13, 2022. The new note on the price target was released on April 22, 2022, representing the official price target for Uranium Energy Corp. stock. Previously, the target price had yet another raise to $1.50, while Canaccord Genuity analysts kept a Speculative Buy rating on UEC stock.

The Average True Range (ATR) for Uranium Energy Corp. is set at 0.20, with the Price to Sales ratio for UEC stock in the period of the last 12 months amounting to 9.24. The Price to Book ratio for the last quarter was 2.35.

UEC Stock Performance Analysis:

Uranium Energy Corp. [UEC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.53. With this latest performance, UEC shares gained by 7.39% in over the last four-week period, additionally plugging by 2.26% over the last 6 months – not to mention a rise of 53.58% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UEC stock in for the last two-week period is set at 61.99, with the RSI for the last a single of trading hit 67.89, and the three-weeks RSI is set at 58.17 for Uranium Energy Corp. [UEC]. The present Moving Average for the last 50 days of trading for this stock 3.71, while it was recorded at 3.95 for the last single week of trading, and 3.88 for the last 200 days.

Insight into Uranium Energy Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Uranium Energy Corp. [UEC] shares currently have an operating margin of -2.62 and a Gross Margin at -18.31. Uranium Energy Corp.’s Net Margin is presently recorded at +22.68.

Return on Equity for this stock inclined to 2.20, with Return on Assets sitting at 2.01.

Uranium Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 3.10.

Uranium Energy Corp. [UEC] Insider Position Details

There are presently around $604 million, or 46.10% of UEC stock, in the hands of institutional investors. The top three institutional holders of UEC stocks are: STATE STREET CORP with ownership of 21,284,529, which is approximately -29.191% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 20,966,986 shares of the stock with an approximate value of $85.34 million in UEC stocks shares; and VANGUARD GROUP INC, currently with $76.07 million in UEC stock with ownership of nearly 27.656% of the company’s market capitalization.

Positions in Uranium Energy Corp. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 113 institutional holders increased their position in Uranium Energy Corp. [AMEX:UEC] by around 25,706,115 shares. Additionally, 59 investors decreased positions by around 15,664,306 shares, while 40 investors held positions by with 107,052,533 shares. The mentioned changes placed institutional holdings at 148,422,954 shares, according to the latest SEC report filing. UEC stock had 38 new institutional investments in for a total of 1,627,261 shares, while 16 institutional investors sold positions of 1,209,297 shares during the same period.


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