Pallas Capital Advisors LLC Purchases 12,853 Shares of Uranium Energy Corp. (NYSEAMERICAN:UEC)

Pallas Capital Advisors LLC lifted its position in Uranium Energy Corp. (NYSEAMERICAN:UEC) by 80.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,923 shares of the basic materials company’s stock after purchasing an additional 12,853 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Uranium Energy were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in Uranium Energy by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 6,602,890 shares of the basic materials company’s stock worth $44,174,000 after purchasing an additional 1,645,919 shares during the last quarter. American Century Companies Inc. lifted its stake in Uranium Energy by 194.6% in the fourth quarter. American Century Companies Inc. now owns 1,143,327 shares of the basic materials company’s stock worth $7,649,000 after purchasing an additional 755,285 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Uranium Energy in the fourth quarter worth about $188,000. New York State Common Retirement Fund lifted its stake in Uranium Energy by 12.9% in the fourth quarter. New York State Common Retirement Fund now owns 123,549 shares of the basic materials company’s stock worth $827,000 after purchasing an additional 14,100 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its stake in Uranium Energy by 84.2% in the fourth quarter. Vontobel Holding Ltd. now owns 71,015 shares of the basic materials company’s stock worth $477,000 after purchasing an additional 32,467 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Uranium Energy Stock Performance

Shares of Uranium Energy stock opened at $6.25 on Friday. The firm has a 50-day simple moving average of $5.48 and a two-hundred day simple moving average of $6.50. The company has a market cap of $2.64 billion, a P/E ratio of -52.08 and a beta of 1.88. Uranium Energy Corp. has a fifty-two week low of $3.85 and a fifty-two week high of $8.93.

Wall Street Analyst Weigh In

UEC has been the subject of several analyst reports. Stifel Nicolaus set a $10.50 price objective on shares of Uranium Energy in a research note on Wednesday, March 12th. BMO Capital Markets initiated coverage on shares of Uranium Energy in a research note on Tuesday, June 3rd. They issued an “outperform” rating and a $7.75 price objective for the company. Stifel Canada raised shares of Uranium Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.25 price target on shares of Uranium Energy in a research note on Thursday, March 13th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $10.13.

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.