Pinebridge Investments L.P. Trims Stock Holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Pinebridge Investments L.P. reduced its stake in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 731,049 shares of the basic materials company’s stock after selling 15,577 shares during the period. Pinebridge Investments L.P. owned 0.17% of Uranium Energy worth $4,891,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Uranium Energy by 394.5% in the 3rd quarter. Barclays PLC now owns 697,045 shares of the basic materials company’s stock worth $4,329,000 after buying an additional 556,081 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Uranium Energy in the third quarter worth about $288,000. Tidal Investments LLC grew its position in shares of Uranium Energy by 11.1% during the third quarter. Tidal Investments LLC now owns 72,402 shares of the basic materials company’s stock worth $450,000 after purchasing an additional 7,220 shares in the last quarter. Franklin Resources Inc. raised its stake in Uranium Energy by 12.7% during the 3rd quarter. Franklin Resources Inc. now owns 22,245 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 2,505 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Uranium Energy in the 3rd quarter worth approximately $174,000. 62.28% of the stock is currently owned by institutional investors.

Uranium Energy Trading Up 1.7 %

Shares of UEC opened at $5.27 on Friday. The firm has a market capitalization of $2.23 billion, a P/E ratio of -43.92 and a beta of 1.88. Uranium Energy Corp. has a 12-month low of $3.85 and a 12-month high of $8.93. The firm has a fifty day moving average price of $5.20 and a 200-day moving average price of $6.53.

Wall Street Analysts Forecast Growth

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

Uranium Energy Profile

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.