- H.C. Wainwright and Co. increase price target, reiterate buy rating for UEC
- Key moves by company lead to stronger position
- UEC investing to build next generation of low-cost and environmentally friendly uranium projects that will be competitive on global basis, says CEO
Recent action taken by Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company that controls one of the country’s largest historical uranium exploration and development databases, has prompted H.C. Wainwright and Co. to increase its price target for the company and reiterate its buy rating (https://ibn.fm/6wWpO). In its updated report, Wainwright specifically cited three main factors for the increase in price: UEC’s decision to obtain financing to support physical uranium purchases, the establishment of a physical uranium inventory initiative and the restart of wellfield development and definition drilling at the company’s Burke Hollow project.
“On March 22, Uranium Energy Corp. (‘UEC’) announced that it had closed an offering for total gross proceeds of $30.5M after issuing 10.0M common shares at a price of $3.05 per share,” the report stated. “These funds are expected to be used for additional uranium purchases, as well as…
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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