Zacks Investment Research Lowers Uranium Resources, Inc. (URRE) to Hold

Uranium Resources, Inc. (NASDAQ:URRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, May 9th.

According to Zacks, “Uranium Resources, Inc. was formed in 1977 and incorporated in the state of Delaware in 1987 to acquire, explore and develop properties for the mining of uranium (hereinafter sometimes referred to as U3 08) in the United States using the in situ leach mining process (ISL). The Company has two developed mining properties – Kingsville Dome and Rosita – both located in South Texas. “

Separately, Roth Capital set a $3.00 target price on Uranium Resources and gave the company a “buy” rating in a report on Saturday, March 18th.

Uranium Resources (NASDAQ:URRE) opened at 1.47 on Tuesday. The company’s 50-day moving average price is $1.56 and its 200-day moving average price is $1.78. The stock’s market capitalization is $36.03 million. Uranium Resources has a one year low of $0.97 and a one year high of $4.00.

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Several institutional investors have recently bought and sold shares of URRE. Vanguard Group Inc. raised its position in Uranium Resources by 76.8% in the first quarter. Vanguard Group Inc. now owns 252,168 shares of the basic materials company’s stock worth $474,000 after buying an additional 109,501 shares during the last quarter. Geode Capital Management LLC raised its position in Uranium Resources by 546.1% in the first quarter. Geode Capital Management LLC now owns 165,848 shares of the basic materials company’s stock worth $311,000 after buying an additional 140,179 shares during the last quarter. Citadel Advisors LLC acquired a new position in Uranium Resources during the first quarter worth approximately $293,000. Finally, Dimensional Fund Advisors LP acquired a new position in Uranium Resources during the first quarter worth approximately $388,000. Institutional investors and hedge funds own 6.03% of the company’s stock.

Uranium Resources Company Profile

Uranium Resources, Inc is engaged in developing energy-related metals. As of December 16, 2016, the Company had developed land position in two prospective lithium brine basins in Nevada and Utah in preparation for exploration and development of any resources that may be discovered there. In addition, it remains focused on advancing the Temrezli in-situ recovery (ISR) uranium project in Central Turkey when uranium prices permit economic development of this project.

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