Principal Financial Group Inc. Decreases Holdings in Uranium Energy Corp. (NYSEAMERICAN:UEC)

Principal Financial Group Inc. reduced its position in shares of Uranium Energy Corp. (NYSEAMERICAN:UEC) by 30.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,178 shares of the basic materials company’s stock after selling 15,959 shares during the quarter. Principal Financial Group Inc.’s holdings in Uranium Energy were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of UEC. Van ECK Associates Corp increased its position in shares of Uranium Energy by 78.0% during the third quarter. Van ECK Associates Corp now owns 4,956,971 shares of the basic materials company’s stock valued at $30,783,000 after acquiring an additional 2,171,468 shares in the last quarter. Riggs Asset Managment Co. Inc. purchased a new stake in Uranium Energy during the 3rd quarter valued at $501,000. Riverwater Partners LLC bought a new position in shares of Uranium Energy during the 3rd quarter valued at $2,341,000. Grimes & Company Inc. purchased a new position in shares of Uranium Energy in the 3rd quarter worth $394,000. Finally, Vanguard Group Inc. grew its holdings in shares of Uranium Energy by 2.4% in the first quarter. Vanguard Group Inc. now owns 22,761,516 shares of the basic materials company’s stock worth $153,640,000 after acquiring an additional 538,703 shares during the period. 62.28% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Scott Melbye acquired 9,500 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 988,031 shares in the company, valued at approximately $4,129,969.58. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir Adnani purchased 60,000 shares of Uranium Energy stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $4.10 per share, with a total value of $246,000.00. Following the acquisition, the chief executive officer now directly owns 4,242,326 shares in the company, valued at $17,393,536.60. This trade represents a 1.43 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $10.25 price target on shares of Uranium Energy in a research report on Tuesday, September 24th. Roth Mkm reaffirmed a “buy” rating and issued a $10.25 target price (up previously from $9.75) on shares of Uranium Energy in a report on Wednesday, October 23rd.

Uranium Energy Stock Performance

NYSEAMERICAN:UEC opened at $8.07 on Tuesday. The company has a market capitalization of $3.32 billion, a P/E ratio of -134.39 and a beta of 1.82. Uranium Energy Corp. has a twelve month low of $4.06 and a twelve month high of $8.77. The stock’s fifty day simple moving average is $6.44.

Uranium Energy (NYSEAMERICAN:UEC) last released its quarterly earnings data on Thursday, September 26th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter. On average, analysts forecast that Uranium Energy Corp. will post 0.09 EPS for the current fiscal year.

Uranium Energy Company 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.