Riggs Asset Managment Co. Inc. Makes New Investment in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Riggs Asset Managment Co. Inc. bought a new position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 80,721 shares of the basic materials company’s stock, valued at approximately $501,000.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in Uranium Energy in the second quarter worth $26,000. EntryPoint Capital LLC grew its holdings in shares of Uranium Energy by 897.7% during the first quarter. EntryPoint Capital LLC now owns 4,340 shares of the basic materials company’s stock valued at $29,000 after buying an additional 3,905 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in Uranium Energy during the first quarter valued at approximately $68,000. Blackhawk Capital Partners LLC. bought a new position in Uranium Energy during the second quarter valued at approximately $69,000. Finally, Janney Montgomery Scott LLC bought a new position in Uranium Energy in the first quarter worth approximately $75,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UEC shares. HC Wainwright reissued a “buy” rating and issued a $10.25 price objective on shares of Uranium Energy in a research note on Tuesday, September 24th. Roth Mkm reiterated a “buy” rating and set a $10.25 price objective (up previously from $9.75) on shares of Uranium Energy in a research note on Wednesday, October 23rd.

Uranium Energy Price Performance

Shares of NYSEAMERICAN:UEC opened at $7.73 on Monday. The company has a 50-day simple moving average of $6.36. Uranium Energy Corp. has a one year low of $4.06 and a one year high of $8.67.

Uranium Energy (NYSEAMERICAN:UEC) last announced its earnings results on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter. Uranium Energy had a negative return on equity of 4.98% and a negative net margin of 8.20%. As a group, sell-side analysts predict that Uranium Energy Corp. will post 0.09 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amir Adnani bought 60,000 shares of Uranium Energy stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $4.10 per share, with a total value of $246,000.00. Following the purchase, the chief executive officer now directly owns 4,242,326 shares of the company’s stock, valued at approximately $17,393,536.60. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Amir Adnani purchased 60,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $4.10 per share, for a total transaction of $246,000.00. Following the transaction, the chief executive officer now owns 4,242,326 shares of the company’s stock, valued at $17,393,536.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Melbye bought 9,500 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $4.18 per share, for a total transaction of $39,710.00. Following the completion of the acquisition, the executive vice president now directly owns 988,031 shares in the company, valued at approximately $4,129,969.58. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

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.