In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Uranium Energy (UEC), with a price target of $5.00. The company’s shares closed last Wednesday at $2.65.
According to TipRanks.com, Ihle is a top 25 analyst with an average return of 45.1% and a 64.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.
Currently, the analyst consensus on Uranium Energy is a Moderate Buy with an average price target of $4.25, a 58.6% upside from current levels. In a report issued on March 17, Canaccord Genuity also maintained a Buy rating on the stock with a $3.50 price target.
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Based on Uranium Energy’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $3.46 million. In comparison, last year the company had a GAAP net loss of $1.89 million.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Scott Melbye, the EVP of UEC bought 60,000 shares for a total of $55,800.
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Uranium Energy Corp. is engages in mining and exploration of uranium. Its activities also include pre-extraction, extraction and processing on uranium projects. The company was founded by Alan P. Lindsay and Amir Adnani on May 16, 2003 and is headquartered in Vancouver, Canada.
