enCore Energy Corp. (NASDAQ:EU) Shares Bought by MMCAP International Inc. SPC

Key Points

• MMCAP International Inc. SPC increased its holdings in enCore Energy Corp. by 66.0% in the first quarter, now owning approximately 3,819,501 shares valued at $5,232,000.
• Various institutional investors, including Raymond James Financial and American Century Companies, have also increased their stakes, with institutional ownership currently at 20.86%.
• enCore Energy's latest earnings report showed a negative EPS of -$0.08, missing analyst estimates but exceeding revenue expectations with $18.24 million reported.

MMCAP International Inc. SPC lifted its holdings in shares of enCore Energy Corp. (NASDAQ:EU - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,819,501 shares of the company's stock after purchasing an additional 1,517,992 shares during the period. enCore Energy comprises about 0.9% of MMCAP International Inc. SPC's investment portfolio, making the stock its 27th biggest position. MMCAP International Inc. SPC owned 2.05% of enCore Energy worth $5,232,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of enCore Energy during the fourth quarter worth about $38,000. LPL Financial LLC purchased a new position in shares of enCore Energy during the fourth quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of enCore Energy by 64.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,000 shares of the company's stock valued at $27,000 after acquiring an additional 7,461 shares in the last quarter. Wellington Management Group LLP purchased a new stake in enCore Energy in the fourth quarter worth $69,000. Finally, Ameriprise Financial Inc. purchased a new stake in enCore Energy in the fourth quarter worth $73,000. Institutional investors own 20.86% of the company's stock.

enCore Energy Price Performance

NASDAQ:EU traded down $0.01 during mid-day trading on Thursday, hitting $2.80. The company's stock had a trading volume of 1,109,653 shares, compared to its average volume of 2,415,862. The stock has a market cap of $522.94 million, a price-to-earnings ratio of -7.99 and a beta of 1.85. The business's fifty day moving average is $2.66 and its two-hundred day moving average is $2.17. enCore Energy Corp. has a 1 year low of $1.01 and a 1 year high of $4.44.

enCore Energy (NASDAQ:EU - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.07) earnings per share for the quarter. enCore Energy had a negative net margin of 143.28% and a negative return on equity of 19.23%. The firm had revenue of $3.66 million during the quarter. Analysts anticipate that enCore Energy Corp. will post -0.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EU shares. HC Wainwright upped their price objective on shares of enCore Energy from $2.75 to $4.00 and gave the stock a "buy" rating in a report on Tuesday. B. Riley began coverage on enCore Energy in a research report on Wednesday, July 23rd. They set a "buy" rating and a $4.00 price objective for the company.

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 Crownpoint and Hosta Butte uranium project area covers 3,020 acres located in the Grants Uranium Belt, New Mexico. The company also holds interest in the Marquez-Juan Tafoya property comprises 14,582 acres located in McKinley and Sandoval counties of New Mexico; and the Nose Rock project comprising 42 owned unpatented lode mining claims comprising approximately 800 acres located in McKinley County, New Mexico.