Roth MKM analyst Joe Reagor raised the firm’s price target on Uranium Energy (UEC) to $9.50 from $9 and keeps a Buy rating on the shares. The firm cites the company’s announcement that it is acquiring Rio Tinto’s (RIO) Wyoming uranium assets, which is an “ideal bolt-on” deal, the analyst tells investors in a research note. Given the current resource base is historical, there is potential for Uranium Energy to generate shareholder value by converting these resources to a SK-1300 compliant resource, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UEC:
- Unusually active option classes on open September 24th
- Uranium Energy Expands with Rio Tinto’s Assets Purchase
- Uranium Energy to acquire Wyoming assets from Rio Tinto for $175M
- Uranium Energy Corp Expands U.S. Production Capacity with Acquisition of Rio Tinto’s Sweetwater Plant and Wyoming Uranium Assets
- Uranium Energy Reveals High-Grade Findings at Roughrider North