enCore Energy (CVE:EU) Stock Price Down 7% - Here's Why

Key Points

• enCore Energy's shares fell 7% to C$2.47 on Friday, with 171,499 shares traded — about 68% below the average session volume and down from a C$2.65 close.
• Analysts remain upbeat: Northland Securities upgraded the stock to a "Strong Buy", and two analysts currently rate the stock as Strong Buy, leaving the average rating at Strong Buy.
• enCore is a U.S. uranium exploration and development company with a market cap of C$490.4M, a negative PE of -8.42, and its stock is trading below both the 50-day (C$2.79) and 200-day (C$3.53) moving averages.

enCore Energy Corp. (CVE:EU - Get Free Report)'s stock price fell 7% during trading on Friday . The company traded as low as C$2.46 and last traded at C$2.47. 171,499 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 535,228 shares. The stock had previously closed at C$2.65.

Analysts Set New Price Targets

Separately, Northland Securities upgraded enCore Energy to a "strong-buy" rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has an average rating of "Strong Buy".

enCore Energy Stock Performance

The stock has a market cap of C$490.40 million, a PE ratio of -8.42 and a beta of 1.46. The stock's 50-day moving average is C$2.79 and its two-hundred day moving average is C$3.53.

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.

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