Ur-Energy (NYSEAMERICAN:URG) Shares Gap Up – Time to Buy?

Ur-Energy Inc. (NYSEAMERICAN:URG) (TSE:URE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $1.33, but opened at $1.38. Ur-Energy shares last traded at $1.39, with a volume of 3,339,965 shares traded.

Analyst Ratings Changes

URG has been the topic of several recent research reports. B. Riley cut their target price on Ur-Energy from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Roth Mkm reaffirmed a “buy” rating and issued a $2.20 price objective (up from $1.90) on shares of Ur-Energy in a research note on Wednesday, October 23rd. Finally, HC Wainwright decreased their target price on shares of Ur-Energy from $3.20 to $2.70 and set a “buy” rating for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2.30.

Ur-Energy Stock Performance

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last released its earnings results on Wednesday, November 6th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $6.40 million for the quarter, compared to analyst estimates of $9.67 million. Analysts anticipate that Ur-Energy Inc. will post -0.13 EPS for the current fiscal year.

Insider Activity

In other news, COO Steven M. Hatten sold 179,733 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $1.19, for a total value of $213,882.27. Following the completion of the sale, the chief operating officer now owns 303,977 shares in the company, valued at $361,732.63. This represents a 37.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Roger L. Smith sold 228,119 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $1.20, for a total transaction of $273,742.80. Following the completion of the sale, the chief financial officer now directly owns 613,061 shares of the company’s stock, valued at $735,673.20. The trade was a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 605,480 shares of company stock worth $726,708 in the last three months. Company insiders own 3.29% of the company’s stock.

Institutional Investors Weigh In On Ur-Energy

Several large investors have recently modified their holdings of URG. Geode Capital Management LLC raised its stake in Ur-Energy by 21.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,886,655 shares of the basic materials company’s stock valued at $4,625,000 after acquiring an additional 695,487 shares during the period. Segra Capital Management LLC lifted its stake in shares of Ur-Energy by 47.2% during the 3rd quarter. Segra Capital Management LLC now owns 20,945,798 shares of the basic materials company’s stock valued at $25,067,000 after buying an additional 6,718,094 shares in the last quarter. Jane Street Group LLC boosted its holdings in Ur-Energy by 128.4% in the 3rd quarter. Jane Street Group LLC now owns 333,488 shares of the basic materials company’s stock worth $397,000 after buying an additional 187,496 shares during the period. Wexford Capital LP purchased a new position in Ur-Energy in the 3rd quarter valued at approximately $198,000. Finally, State Street Corp raised its holdings in Ur-Energy by 19.1% during the 3rd quarter. State Street Corp now owns 3,383,899 shares of the basic materials company’s stock valued at $4,027,000 after acquiring an additional 541,777 shares during the period. Hedge funds and other institutional investors own 57.51% of the company’s stock.

About Ur-Energy

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.