enCore Energy (CVE:EU) Trading 2.9% Higher - Here's Why

Key Points

• Shares of enCore Energy rose about 2.9% on Monday, trading as high as C$2.55 and last at C$2.48, with roughly 398,967 shares changing hands—about 36% below the average daily volume.
• Northland Securities upgraded enCore to a strong-buy on Jan. 6, and the stock now has a consensus rating of Strong Buy from two analysts.
• enCore is a U.S.-focused uranium exploration and development company with New Mexico projects (Crownpoint, Hosta Butte, Marquez-Juan Tafoya, Nose Rock); it has a market cap of C$464.5M, a negative P/E (-8.86), and is trading below its 50- and 200-day moving averages (C$3.60 and C$3.80).

Shares of enCore Energy Corp. (CVE:EU - Get Free Report) rose 2.9% during trading on Monday . The stock traded as high as C$2.55 and last traded at C$2.48. Approximately 398,967 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 626,604 shares. The stock had previously closed at C$2.41.

Wall Street Analyst Weigh In

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

enCore Energy Price Performance

The stock has a market capitalization of C$464.46 million, a P/E ratio of -8.86 and a beta of 0.95. The company's 50 day simple moving average is C$3.60 and its two-hundred day simple moving average is C$3.80.

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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