The Manufacturers Life Insurance Company Buys 17,543,525 Shares of Ur-Energy Inc. (NYSEAMERICAN:URG)

The Manufacturers Life Insurance Company raised its stake in Ur-Energy Inc. (NYSEAMERICAN:URG) (TSE:URE) by 16,425.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,650,333 shares of the basic materials company’s stock after purchasing an additional 17,543,525 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Ur-Energy were worth $21,004,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Xponance Inc. purchased a new stake in shares of Ur-Energy during the second quarter worth about $25,000. Principal Financial Group Inc. purchased a new position in Ur-Energy during the 2nd quarter valued at about $51,000. Tidal Investments LLC bought a new position in Ur-Energy during the 1st quarter valued at approximately $65,000. Intech Investment Management LLC purchased a new stake in Ur-Energy in the 3rd quarter worth approximately $73,000. Finally, Ballentine Partners LLC grew its position in shares of Ur-Energy by 235.6% in the 3rd quarter. Ballentine Partners LLC now owns 68,266 shares of the basic materials company’s stock worth $81,000 after buying an additional 47,922 shares during the last quarter. Hedge funds and other institutional investors own 57.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on URG. B. Riley decreased their target price on Ur-Energy from $3.00 to $2.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. HC Wainwright dropped their target price on shares of Ur-Energy from $3.20 to $2.70 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $2.20 target price (up previously from $1.90) on shares of Ur-Energy in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.30.

Ur-Energy Stock Performance

NYSEAMERICAN URG opened at $1.31 on Friday. The company has a market cap of $476.97 million, a P/E ratio of -10.08 and a beta of 1.11. Ur-Energy Inc. has a twelve month low of $0.96 and a twelve month high of $2.01.

Ur-Energy (NYSEAMERICAN:URG) (TSE:URE) last announced its earnings results on Wednesday, November 6th. The basic materials company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $6.40 million for the quarter, compared to the consensus estimate of $9.67 million. Research analysts predict that Ur-Energy Inc. will post -0.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Penne A. Goplerud sold 100,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $1.19, for a total transaction of $119,000.00. Following the sale, the insider now directly owns 412,895 shares of the company’s stock, valued at approximately $491,345.05. This represents a 19.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Roger L. Smith sold 228,119 shares of Ur-Energy stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $1.20, for a total transaction of $273,742.80. Following the completion of the transaction, the chief financial officer now directly owns 613,061 shares of the company’s stock, valued at $735,673.20. This trade represents a 27.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 605,480 shares of company stock valued at $726,708 over the last quarter. Corporate insiders own 3.29% of the company’s stock.

Ur-Energy Company Profile

Ur-Energy Inc engages in the acquisition, exploration, development, and operation of uranium mineral properties. The company holds interests in 12 projects located in the United States. Its flagship property is the Lost Creek project comprising a total of approximately 1,800 unpatented mining claims and three Wyoming mineral leases covering an area of approximately 35,400 acres located in the Great Divide Basin, Wyoming.