Uranium Royalty Corp (NASDAQ: UROY) has recently been downgraded from a “strong-buy” rating to a “hold” rating by analysts at Zacks Research. This adjustment was detailed in a note issued to investors on October 8, 2023, reflecting a shift in the market’s outlook on the company’s stock.
The downgrade follows a series of evaluations by other financial institutions. On September 23, 2023, Raymond James Financial reaffirmed a “market perform” rating for Uranium Royalty shares, while Weiss Ratings issued a “sell (D+)” rating a few weeks later. Additionally, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on September 13, 2023. Currently, one research analyst has issued a Buy rating, three analysts have rated it as Hold, and one has assigned a Sell rating. According to MarketBeat.com, the stock possesses an average rating of “Hold” with an average price target of $4.50.
Recent Financial Performance
Uranium Royalty reported its earnings results on September 11, 2023. The company announced earnings of $0.01 per share for the quarter, surpassing analysts’ consensus estimates of a loss of $0.01 by $0.02. The firm recorded a revenue of $28.90 million, significantly exceeding the consensus estimate of $9.49 million. Despite these positive revenue figures, Uranium Royalty faced challenges with a negative net margin of 2.90% and a negative return on equity of 0.56%. Analysts predict that the company will achieve earnings of $0.01 per share for the current year.
Institutional Investment Trends
Recent activity among institutional investors indicates heightened interest in Uranium Royalty. Private Advisor Group LLC acquired a new position in the stock during the first quarter, investing approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in the company by 64.8%, now holding 30,667 shares valued at $55,000. XTX Topco Ltd significantly boosted its ownership by 488.0%, acquiring an additional 111,638 shares, bringing its total to 134,515 shares worth around $237,000.
Additionally, Virtu Financial LLC purchased a new stake valued at approximately $155,000, while Eagle Global Advisors LLC increased its position by 42.1%, now possessing 127,900 shares valued at $225,000. Collectively, hedge funds and institutional investors own 24.19% of Uranium Royalty’s stock, reflecting a strong institutional interest in the company’s future.
Uranium Royalty operates as a pure-play uranium royalty company, managing a diverse portfolio of uranium interests. The company holds royalty interests in several projects across Canada, including the McArthur River, Cigar Lake, and Dawn Lake projects in Saskatchewan, as well as interests in various projects in Arizona, Wyoming, New Mexico, South Dakota, Colorado, and Namibia.
As analysts continue to evaluate Uranium Royalty’s performance and market position, investors will be watching closely for any further adjustments in ratings and insights into the company’s financial health.
