enCore Energy (CVE:EU) Stock Price Down 1.4% – Here’s Why

enCore Energy Corp. (CVE:EU) shares dropped 1.4% on Wednesday . The company traded as low as C$5.46 and last traded at C$5.49. 64,527 shares traded hands during trading, a decline of 69% from the average session volume of 209,459 shares. The stock had previously closed at C$5.57.

Analyst Ratings Changes

A number of brokerages have weighed in on EU. Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a research note on Monday, July 8th. Ventum Financial set a C$7.00 price target on shares of enCore Energy and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Canaccord Genuity Group increased their price objective on shares of enCore Energy from C$8.00 to C$8.50 and gave the company a “buy” rating in a research note on Tuesday, September 24th.

enCore Energy Price Performance

The company has a market cap of C$1.01 billion, a P/E ratio of -30.50 and a beta of 1.20. The business’s 50 day simple moving average is C$5.26.

enCore Energy (CVE:EU) last released its quarterly earnings results on Wednesday, August 14th. The company reported C($0.07) earnings per share for the quarter. enCore Energy had a negative net margin of 58.43% and a negative return on equity of 6.92%. The business had revenue of C$7.28 million for the quarter.

Insider Activity

In other news, Director William Morris Sheriff sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$3.80, for a total transaction of C$38,000.00. Insiders own 2.12% of the company’s stock.

About enCore Energy

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