The Energy Report
Source: Streetwise Reports 02/15/2019
A ROTH Capital Partners report provided an update on this Texas-based energy company’s ongoing project work.
In a Feb. 7 research note, ROTH Capital Partners analyst Joe Reagor reported that Uranium Energy Corp. (UEC:NYSE.MKT) is advancing two of its in situ uranium projects, Reno Creek and Burke Hollow, despite continued uncertainty about the Section 132 petition result.
Resolution of that issue is the primary catalyst for the company this year, Reagor highlighted. “We anticipate receiving additional information when a recommendation is made to the [U.S.] president in late Q1/19 or early Q2/19.”
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Uranium Energy intends to move Reno Creek in Wyoming into the prefeasibility stage, which, Reagor commented, “should provide the company with a clearer picture of the uranium price needed to justify construction.” ROTH expects that figure would have to be above $40.
Simultaneously, Reagor noted, the miner is preparing to drill and install monitoring wells at Burke Hollow in Texas later in Q1/19. First, it will place 20 wells in areas of less dense drilling in the past and then follow with 120 more wells across the asset.
ROTH, bullish on the uranium sector and expecting a positive result from the Section 132 petition, maintains a Buy rating and a $3.40 per share price target on Uranium Energy. The company’s current share price is around $1.36.
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Disclosures from ROTH Capital Partners, Uranium Energy Corp., Flash Note, February 7, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
ROTH makes a market in shares of Uranium Energy Corp. and as such, buys and sells from customers on a principal basis.
Shares of Uranium Energy Corp. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which
may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
( Companies Mentioned: UEC:NYSE.MKT,