enCore Energy (CVE:EU) Reaches New 1-Year Low - Here's Why

Key Points

• enCore Energy hit a new 52-week low, falling 10.5% to C$0.94 in mid-day trading, below its previous close of C$1.05 and its 50- and 200-day moving averages.
• Despite the share-price decline, both analysts covering the stock rate it Strong Buy; Jefferies recently upgraded its rating.
• Insiders have been buying shares: a director purchased 100,000 shares for C$114,000, and insiders bought 250,000 shares worth about C$293,000 over the past three months.

enCore Energy Corp. (CVE:EU - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as C$0.94 and last traded at C$0.94, with a volume of 235,022 shares changing hands. The stock had previously closed at C$1.05.

Analysts Set New Price Targets

Separately, Jefferies Financial Group upgraded shares of enCore Energy to a "strong-buy" rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating. Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy".

enCore Energy Trading Down 10.5%

The stock has a market cap of C$182.62 million, a P/E ratio of -2.85 and a beta of 2.43. The stock's fifty day moving average price is C$1.45 and its 200 day moving average price is C$2.29.

Insider Transactions at enCore Energy

In other enCore Energy news, Director William Morris Sheriff acquired 100,000 shares of the company's stock in a transaction that occurred on Friday, September 18th. The shares were acquired at an average price of C$1.14 per share, with a total value of C$114,000.00. Following the completion of the purchase, the director directly owned 1,662,169 shares of the company's stock, valued at approximately C$1,894,872.66. The trade was a 6.40% increase in their position. Over the last three months, insiders have bought 250,000 shares of company stock worth $293,000. Company insiders own 2.12% of the company's stock.

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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