American Century Companies Inc. Makes New Investment in enCore Energy Corp. (NASDAQ:EU)

American Century Companies Inc. acquired a new position in enCore Energy Corp. (NASDAQ:EU) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 45,487 shares of the company’s stock, valued at approximately $179,000.

Other institutional investors have also added to or reduced their stakes in the company. Azarias Capital Management L.P. increased its position in enCore Energy by 28.1% in the second quarter. Azarias Capital Management L.P. now owns 4,814,976 shares of the company’s stock worth $20,590,000 after purchasing an additional 1,056,483 shares during the last quarter. MMCAP International Inc. SPC bought a new stake in shares of enCore Energy in the 1st quarter worth about $11,055,000. Vident Advisory LLC raised its position in shares of enCore Energy by 21.3% during the 1st quarter. Vident Advisory LLC now owns 1,575,173 shares of the company’s stock valued at $6,693,000 after buying an additional 276,211 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of enCore Energy by 65.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,286,286 shares of the company’s stock valued at $5,068,000 after acquiring an additional 510,176 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in enCore Energy by 37.0% in the first quarter. Vanguard Group Inc. now owns 922,691 shares of the company’s stock worth $4,041,000 after acquiring an additional 249,307 shares in the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Stock Performance

Shares of enCore Energy stock opened at $4.33 on Friday. enCore Energy Corp. has a fifty-two week low of $2.98 and a fifty-two week high of $5.05. The firm has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $4.08. The company has a market cap of $798.47 million, a P/E ratio of -33.31 and a beta of -0.03.

enCore Energy (NASDAQ:EU) last announced its earnings results on Wednesday, August 14th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The business had revenue of $5.32 million during the quarter, compared to analyst estimates of $13.10 million. Equities research analysts forecast that enCore Energy Corp. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright lowered their price target on enCore Energy from $7.50 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a research note on Thursday, August 22nd.

enCore Energy Profile

enCore Energy Corp. engages in the acquisition, exploration, and development of uranium resource properties in the United States. It holds a 100% interest in Crownpoint and Hosta Butte uranium project area covers 3,020 acres located in the Grants Uranium Belt, New Mexico. The company also holds interest in the Marquez-Juan Tafoya property comprises 14,582 acres located in McKinley and Sandoval counties of New Mexico; and the Nose Rock project comprising 42 owned unpatented lode mining claims comprising approximately 800 acres located in McKinley County, New Mexico.