enCore Energy Corp. $EU is Azarias Capital Management L.P.'s 6th Largest Position

Key Points

• Azarias Capital Management increased its stake in enCore Energy by 22.6% in the first quarter, bringing its holdings to 5.07 million shares. The position is now Azarias’ 6th largest and represents about 4.1% of its portfolio.
• enCore Energy reported a wider-than-expected loss of $0.09 per share in its latest quarter, though revenue of $18.3 million came in above analyst forecasts. Analysts currently expect the company to post a full-year EPS loss of 0.32.
• Insiders have been buying shares, including Director Wayne W. Heili and Chairman William M. Sheriff, while analysts maintain a “Moderate Buy” consensus with an average price target of $3.83.

Azarias Capital Management L.P. boosted its holdings in shares of enCore Energy Corp. (NASDAQ:EU - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,067,708 shares of the company's stock after acquiring an additional 934,857 shares during the quarter. enCore Energy comprises 4.1% of Azarias Capital Management L.P.'s holdings, making the stock its 6th largest holding. Azarias Capital Management L.P. owned approximately 2.61% of enCore Energy worth $9,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EU. Van ECK Associates Corp boosted its stake in enCore Energy by 76.7% during the third quarter. Van ECK Associates Corp now owns 15,972,156 shares of the company's stock worth $51,271,000 after buying an additional 6,933,454 shares during the period. MMCAP International Inc. SPC raised its stake in shares of enCore Energy by 13.0% in the 3rd quarter. MMCAP International Inc. SPC now owns 4,316,838 shares of the company's stock valued at $13,857,000 after acquiring an additional 497,337 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of enCore Energy in the 4th quarter valued at approximately $1,009,000. GeoSphere Capital Management LLC lifted its holdings in shares of enCore Energy by 333.3% in the 4th quarter. GeoSphere Capital Management LLC now owns 1,300,000 shares of the company's stock worth $3,224,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of enCore Energy by 180.4% in the 3rd quarter. Millennium Management LLC now owns 341,224 shares of the company's stock worth $1,099,000 after acquiring an additional 219,518 shares during the last quarter. Hedge funds and other institutional investors own 20.86% of the company's stock.

enCore Energy Price Performance

enCore Energy stock opened at $1.65 on Monday. The company has a quick ratio of 10.25, a current ratio of 11.08 and a debt-to-equity ratio of 0.39. enCore Energy Corp. has a 52-week low of $1.26 and a 52-week high of $4.18. The firm has a market cap of $320.51 million, a PE ratio of -11.00 and a beta of 2.01. The company's 50 day moving average is $1.69 and its two-hundred day moving average is $2.24.

enCore Energy (NASDAQ:EU - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). enCore Energy had a negative net margin of 62.96% and a negative return on equity of 21.98%. The company had revenue of $18.30 million during the quarter, compared to analyst estimates of $9.30 million. On average, research analysts expect that enCore Energy Corp. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Wayne W. Heili acquired 35,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was acquired 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 of the company's stock, valued at $50,400. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman William M. Sheriff acquired 50,000 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average cost of $1.49 per share, with a total value of $74,500.00. Following the completion of the transaction, the chairman owned 1,387,169 shares of the company's stock, valued at approximately $2,066,881.81. This represents a 3.74% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 259,905 shares of company stock worth $362,534. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on EU shares. HC Wainwright dropped their target price on shares of enCore Energy from $4.00 to $3.75 and set a "buy" rating for the company in a report on Friday, May 15th. Wall Street Zen upgraded enCore Energy from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Northland Securities set a $3.75 price target on enCore Energy in a research report on Monday, May 18th. Finally, Weiss Ratings lowered enCore Energy from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $3.83.

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.

Want to see what other hedge funds are holding EU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for enCore Energy Corp. (NASDAQ:EU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.