BUZZ-Uranium Energy slides after announcing $600 mln stock sale plans

Reuters11-17
BUZZ-<a href="https://laohu8.com/S/UEC">Uranium</a> Energy slides after announcing $600 mln stock sale plans

** Uranium Energy's UEC.A shares down 2% at $11.36 early Mon as co seeks additional equity

** UEC shares fall as much as 13.7% to $10, lowest since Aug 22, before paring losses

** Corpus Christi, Texas-based uranium producer per a securities filing late Fri unveiled up to $600 mln "at-the-market" (ATM) equity sales program with Goldman Sachs as lead manager

** It intends to use net proceeds from any sales for general corporate and working capital purposes

** Last month, UEC raised about $204 mln by selling 15.5 mln shares at $13.15 to accelerate development of a new, American uranium refining and conversion facility

** UEC has ~483.2 mln shares outstanding as of Nov 14 for $5.6 bln market cap

** With the move on the session, shares up ~70% YTD

** 8 of 9 analysts rate the stock "buy", 1 rates "hold"; median PT is $16, according to LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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