enCore Energy (NASDAQ:EU) Raised to "Strong-Buy" at Jefferies Financial Group

Key Points

• Jefferies upgraded enCore Energy to “strong buy,” joining one other Strong Buy rating. Despite mixed analyst opinions, the stock has a consensus “Moderate Buy” rating and an average price target of $2.90.
• enCore Energy shares opened at $1.26, well below their 52-week high of $4.18. The company recently reported a quarterly loss of $0.21 per share, missing expectations by $0.11, on revenue of $15.7 million.
• Insiders purchased 184,905 shares worth approximately $251,000 during the past quarter, while institutional ownership stands at 20.86%. The company is focused on developing U.S. uranium projects using in-situ recovery technology.

enCore Energy (NASDAQ:EU - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a "strong-buy" rating in a research report issued on Thursday, MarketBeat Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Northland Securities set a $3.75 target price on enCore Energy in a research note on Monday, May 18th. Weiss Ratings raised shares of enCore Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, June 23rd. Zacks Research downgraded shares of enCore Energy from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of enCore Energy from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, HC Wainwright reduced their target price on shares of enCore Energy from $3.75 to $3.50 and set a "buy" rating for the company in a report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2.90.

enCore Energy Stock Performance

EU opened at $1.26 on Thursday. The company has a market capitalization of $244.79 million, a price-to-earnings ratio of -3.82 and a beta of 2.13. The business's 50-day moving average price is $1.23 and its two-hundred day moving average price is $1.63. enCore Energy has a 1 year low of $1.03 and a 1 year high of $4.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.00 and a quick ratio of 6.84.

enCore Energy (NASDAQ:EU - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The firm had revenue of $15.70 million for the quarter. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%. Equities analysts expect that enCore Energy will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark S. Pelizza purchased 99,182 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $1.37 per share, with a total value of $135,879.34. Following the transaction, the director directly owned 237,515 shares of the company's stock, valued at $325,395.55. This trade represents a 71.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Wayne W. Heili acquired 35,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were bought at an average price of $1.44 per share, for a total transaction of $50,400.00. Following the purchase, the director owned 35,000 shares in the company, valued at approximately $50,400. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 184,905 shares of company stock worth $251,284. Corporate insiders own 3.00% of the company's stock.

Institutional Trading of enCore Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in EU. Bank of New York Mellon Corp acquired a new stake in enCore Energy in the second quarter valued at $725,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of enCore Energy by 90.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 236,373 shares of the company's stock valued at $310,000 after purchasing an additional 112,130 shares during the period. Rathbones Group PLC acquired a new stake in enCore Energy in the 1st quarter valued at about $63,000. J. Derek Lewis & Associates Inc. lifted its stake in enCore Energy by 82.8% in the 1st quarter. J. Derek Lewis & Associates Inc. now owns 53,000 shares of the company's stock valued at $95,000 after purchasing an additional 24,000 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in enCore Energy by 154.5% during the first quarter. Royal Bank of Canada now owns 31,744 shares of the company's stock worth $57,000 after purchasing an additional 19,269 shares during the period. 20.86% of the stock is owned by institutional investors.

About enCore Energy

enCore Energy Inc is a U.S.-based uranium exploration and development company focused on deploying in-situ recovery (ISR) technology to bring domestic uranium projects into production. The company's operations are centered on the Nichols Ranch ISR facility in Wyoming, which represents enCore's flagship asset and its nearest-term production opportunity. Through ISR methods, enCore seeks to extract uranium with lower environmental impact and capital requirements relative to conventional mining.

In addition to Nichols Ranch, enCore holds a diversified portfolio of uranium properties in the western United States, including the Roca Honda project in New Mexico and several ISR-amenable projects in the Texas and Oklahoma regions.

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