Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 24.05MM shares of Uranium Energy Corp. (UEC). This represents 6.5% of the company.
In their previous filing dated February 3, 2022 they reported 16.80MM shares and 6.30% of the company, an increase in shares of 43.19% and an increase in total ownership of 0.20% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 73.88% Upside
As of January 31, 2023, the average one-year price target for Uranium Energy is $7.01. The forecasts range from a low of $6.06 to a high of $8.66. The average price target represents an increase of 73.88% from its latest reported closing price of $4.03.
The projected annual revenue for Uranium Energy is $27MM, a decrease of 66.27%. The projected annual EPS is $-0.04.
Fund Sentiment
There are 324 funds or institutions reporting positions in Uranium Energy. This is an increase of 3 owner(s) or 0.93%.
Average portfolio weight of all funds dedicated to US:UEC is 0.1612%, an increase of 21.1875%. Total shares owned by institutions increased in the last three months by 4.62% to 165,682K shares.
What are large shareholders doing?
Mirae Asset Global Investments Co. holds 17,769,283 shares representing 4.81% ownership of the company. In it's prior filing, the firm reported owning 14,109,450 shares, representing an increase of 20.60%. The firm increased its portfolio allocation in UEC by 51.43% over the last quarter.
URA - Global X Uranium ETF holds 17,570,667 shares representing 4.75% ownership of the company. In it's prior filing, the firm reported owning 13,523,141 shares, representing an increase of 23.04%. The firm increased its portfolio allocation in UEC by 26.66% over the last quarter.
XME - SPDR Metals & Mining ETF holds 15,394,809 shares representing 4.16% ownership of the company. In it's prior filing, the firm reported owning 24,596,808 shares, representing a decrease of 59.77%. The firm decreased its portfolio allocation in UEC by 8.15% over the last quarter.
MMCAP International Inc. SPC holds 13,626,614 shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 10,470,595 shares, representing an increase of 23.16%. The firm increased its portfolio allocation in UEC by 46.01% over the last quarter.
Alps Advisors holds 11,685,827 shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 10,623,694 shares, representing an increase of 9.09%. The firm increased its portfolio allocation in UEC by 21.64% over the last quarter.
Uranium Energy Background Information
(This description is provided by the company.)
Uranium Energy Corp is a U.S.-based uranium mining and exploration company. In South Texas, the Company's hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the Palangana, Burke Hollow and Goliad ISR projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company controls a pipeline of uranium projects in Arizona, New Mexico and Paraguay, a uranium/vanadium project in Colorado and a large, high-grade ferro-titanium project in Paraguay. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.
This story originally appeared on Fintel.
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