Norges Bank Acquires Shares of 15,063,253 Uranium Energy Corp. (NYSEAMERICAN:UEC)

Norges Bank bought a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,063,253 shares of the basic materials company’s stock, valued at approximately $100,773,000. Norges Bank owned approximately 3.56% of Uranium Energy as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Uranium Energy by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,320,496 shares of the basic materials company’s stock valued at $20,620,000 after purchasing an additional 90,098 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Uranium Energy by 712.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,821,256 shares of the basic materials company’s stock valued at $11,310,000 after buying an additional 1,597,108 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Uranium Energy by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 655,946 shares of the basic materials company’s stock worth $4,073,000 after buying an additional 26,102 shares in the last quarter. Captrust Financial Advisors acquired a new position in Uranium Energy during the third quarter worth about $170,000. Finally, Holocene Advisors LP purchased a new stake in Uranium Energy during the 3rd quarter valued at about $2,376,000. Institutional investors and hedge funds own 62.28% of the company’s stock.

Uranium Energy Stock Performance

Shares of UEC stock opened at $4.66 on Wednesday. The firm has a market cap of $1.97 billion, a P/E ratio of -38.83 and a beta of 1.88. The firm’s 50 day moving average price is $6.18 and its 200-day moving average price is $6.75. Uranium Energy Corp. has a one year low of $4.06 and a one year high of $8.93.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UEC shares. Stifel Nicolaus set a $10.50 target price on Uranium Energy in a report on Wednesday, March 12th. HC Wainwright restated a “buy” rating and set a $12.25 price objective on shares of Uranium Energy in a research report on Thursday, March 13th. National Bankshares set a $10.00 target price on shares of Uranium Energy and gave the company an “outperform” rating in a report on Wednesday, February 12th. National Bank Financial assumed coverage on shares of Uranium Energy in a report on Wednesday, February 12th. They set an “outperform” rating and a $10.00 price target for the company. Finally, Stifel Canada upgraded Uranium Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $10.60.

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.