Bank of New York Mellon Corp Makes New Investment in Ur-Energy Inc. (NYSEAMERICAN:URG)

Bank of New York Mellon Corp purchased a new position in Ur-Energy Inc. (NYSEAMERICAN:URG) (TSE:URE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 785,112 shares of the basic materials company’s stock, valued at approximately $1,099,000. Bank of New York Mellon Corp owned about 0.27% of Ur-Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in shares of Ur-Energy during the 1st quarter worth approximately $65,000. Jump Financial LLC bought a new stake in Ur-Energy during the 4th quarter valued at about $109,000. Cannon Global Investment Management LLC purchased a new position in Ur-Energy in the first quarter worth about $224,000. Anthracite Investment Company Inc. bought a new position in shares of Ur-Energy in the first quarter worth approximately $348,000. Finally, Verity Asset Management Inc. boosted its stake in Ur-Energy by 22.0% during the 1st quarter. Verity Asset Management Inc. now owns 241,729 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 43,592 shares during the last quarter. Institutional investors own 57.51% of the company’s stock.

Ur-Energy Price Performance

Shares of URG opened at $1.18 on Friday. The firm has a market capitalization of $427.48 million, a P/E ratio of -6.21 and a beta of 1.12. Ur-Energy Inc. has a 52-week low of $0.96 and a 52-week high of $2.01.

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last announced its earnings results on Friday, August 9th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Ur-Energy had a negative return on equity of 65.47% and a negative net margin of 173.40%. The business had revenue of $4.65 million during the quarter, compared to analyst estimates of $4.60 million. On average, sell-side analysts anticipate that Ur-Energy Inc. will post -0.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on URG. Ventum Cap Mkts raised shares of Ur-Energy to a “strong-buy” rating in a research report on Monday, July 8th. B. Riley cut their price objective on shares of Ur-Energy from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, HC Wainwright reduced their price objective on Ur-Energy from $3.20 to $2.70 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2.27.

Insiders Place Their Bets

In related news, Director Robby Sai Kit Chang sold 73,474 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $1.38, for a total transaction of $101,394.12. Following the sale, the director now owns 73,572 shares of the company’s stock, valued at $101,529.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.29% of the stock is owned by company insiders.

Ur-Energy Profile

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.