Uranium Energy (UEC) Falls, Mirrors Sector, Broader Market Decline

Uranium Energy Corp. (NYSEAmerican:UEC) is one of the 10 Stocks That Investors Are Dumping.

Uranium Energy fell for a third day on Wednesday, dropping 6.33 percent to close at $5.92 apiece, mirroring the 0.95-percent drop in the uranium sector and the broader decline in the energy industry.

During the session, investors appeared to have unloaded positions due to the lack of fresh leads to boost buying appetite.

In recent news, Uranium Energy Corp. (NYSEAmerican:UEC) boosted its stake in Anfield Energy Inc. to 32.4 percent following the acquisition of 170 million common shares for CA$19.5 million through a private placement.

“The Anfield shares were acquired by the company for investment purposes,” Uranium Energy Corp. (NYSEAmerican:UEC) said, adding that it will continue to monitor the business, prospects, financial condition, and potential capital requirements of Anfield.

A mining worker in a hard hat and coveralls hammering away at the uranium rich walls of the mine.

“Depending on its evaluation of these and other factors, the company may from time to time in the future decrease or increase, directly or indirectly, its ownership, control or direction over securities of Anfield through market transactions, private agreements, [and] subscriptions from treasury,” among others, Uranium Energy Corp. (NYSEAmerican:UEC) said.

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Disclosure: None. This article is originally published at Insider Monkey.