Analyst Provides Guidance for This Canadian Energy Stock

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Uranium Energy (UECResearch Report) today and set a price target of $3.50. The company’s shares closed last Monday at $0.85, close to its 52-week low of $0.82.

According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -5.5% and a 35.7% 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 $3.50.

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Based on Uranium Energy’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $6.33 million. In comparison, last year the company had a GAAP net loss of $3.45 million.

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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.