enCore Energy (NASDAQ:EU) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• enCore Energy reported a quarterly loss of $0.11 per share, beating analyst expectations of a $0.12 loss by $0.01.
• Shares traded at $0.56, near their 12-month low of $0.55; the stock has fallen from a 12-month high of $3.67.
• Analysts’ consensus rating is Moderate Buy, with a $2.90 average price target. Insiders purchased 310,000 shares over the past 90 days.

enCore Energy (NASDAQ:EU - Get Free Report) posted its earnings results on Thursday. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01, Zacks reports. enCore Energy had a negative return on equity of 28.00% and a negative net margin of 112.82%.

enCore Energy Stock Performance

Shares of NASDAQ EU traded down $0.02 during midday trading on Thursday, hitting $0.56. 988,391 shares of the company's stock were exchanged, compared to its average volume of 3,632,019. enCore Energy has a twelve month low of $0.55 and a twelve month high of $3.67. The firm has a market cap of $110.16 million, a P/E ratio of -1.71 and a beta of 2.29. The stock's 50 day moving average price is $0.94 and its 200-day moving average price is $1.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 8.00 and a quick ratio of 6.84.

Insider Transactions at enCore Energy

In related news, Chairman William M. Sheriff bought 100,000 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average price of $0.81 per share, for a total transaction of $81,000.00. Following the transaction, the chairman directly owned 1,662,169 shares of the company's stock, valued at approximately $1,346,356.89. This represents a 6.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan Hoxie-Key sold 30,648 shares of the firm's stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $0.94, for a total transaction of $28,809.12. Following the transaction, the director directly owned 60,918 shares in the company, valued at approximately $57,262.92. The trade was a 33.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 310,000 shares of company stock worth $262,100. Company insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EU shares. Weiss Ratings downgraded enCore Energy from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, September 14th. Jefferies Financial Group initiated coverage on enCore Energy in a research note on Thursday, September 3rd. They set a "buy" rating and a $1.44 price objective for the company. Zacks Research raised enCore Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, October 5th. B. Riley Financial reaffirmed a "buy" rating on shares of enCore Energy in a research report on Wednesday, October 28th. Finally, HC Wainwright cut their target price on enCore Energy from $3.75 to $3.50 and set a "buy" rating on the stock in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, enCore Energy has a consensus rating of "Moderate Buy" and a consensus target price of $2.90.

About enCore Energy

enCore Energy Corp. is a uranium company focused on developing and operating domestic uranium production assets in the United States. The company uses in-situ recovery (ISR), a method that extracts uranium from underground deposits by circulating a solution through the ore-bearing formation and processing the recovered material at a central plant. enCore's portfolio is concentrated primarily in South Texas, where it owns and operates the Rosita processing plant and is developing the Alta Mesa project.

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