Global X Management Is Buying Uranium Energy Corp. (NYSEMKT:UEC) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Uranium Energy Corp.(NYSEMKT:UEC) reported that Global X Management Co Llc. has picked up 6,314,524 of common stock as of 2017-01-30.

The acquisition brings the aggregate amount owned by Global X Management Co Llc. to a total of 6,314,524 representing a 5.37% stake in the company.

For those not familiar with the company, Uranium Energy Corp. is engaged in uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates, on projects located in the United States and Paraguay. The Company utilizes in-situ recovery (ISR) mining. The Company has uranium mine located in the state of Texas, the Palangana Mine, which utilizes ISR mining and extracts uranium oxide (U3O8). The Company has uranium processing facility located in the state of Texas, the Hobson Processing Facility, which processes material from the Palangana Mine into drums of U3O8. The Hobson Processing Facility has a physical capacity to process uranium-loaded resins up to a total of two million pounds of U3O8 annually and is licensed to process up to a total of one million pounds of U3O8 annually.

A glance at Uranium Energy Corp. (NYSEMKT:UEC)’s key stats reveals a current market capitalization of 207.15 million based on 135.20 million shares outstanding and a price at last close of $1.59 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-03-11, Melbye picked up 5,000 at a purchase price of $0.78. This brings their total holding to 74,911 as of the date of the filing.

On the sell side, the most recent transaction saw Obara unload 50,000 shares at a sale price of $0.85. This brings their total holding to 184,646.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Uranium Energy Corp. (NYSEMKT:UEC) as things move forward to see if its progress aligns with these transactions.

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