enCore Energy (NASDAQ:EU) Issues Earnings Results

enCore Energy (NASDAQ:EU) announced its earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03), Zacks reports. The company had revenue of $18.30 million for the quarter, compared to the consensus estimate of $9.30 million. enCore Energy had a negative return on equity of 22.06% and a negative net margin of 62.96%.

enCore Energy Stock Performance

Shares of EU stock traded down $0.10 during trading hours on Friday, reaching $1.52. 2,525,339 shares of the company’s stock were exchanged, compared to its average volume of 2,773,552. enCore Energy has a fifty-two week low of $1.51 and a fifty-two week high of $4.19. The stock has a market capitalization of $295.21 million, a P/E ratio of -10.13 and a beta of 2.18. The business has a fifty day moving average price of $1.88 and a 200-day moving average price of $2.45. The company has a quick ratio of 7.64, a current ratio of 8.03 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. lifted its holdings in shares of enCore Energy by 22.4% during the third quarter. Raymond James Financial Inc. now owns 24,438 shares of the company’s stock worth $78,000 after buying an additional 4,470 shares during the last quarter. Creative Planning raised its stake in shares of enCore Energy by 66.1% in the second quarter. Creative Planning now owns 24,162 shares of the company’s stock valued at $69,000 after purchasing an additional 9,612 shares in the last quarter. OLD Mission Capital LLC acquired a new position in shares of enCore Energy in the fourth quarter valued at $66,000. CIBC Bancorp USA Inc. acquired a new position in shares of enCore Energy in the third quarter valued at $63,000. Finally, CIBC Asset Management Inc acquired a new position in shares of enCore Energy in the fourth quarter valued at $54,000. 20.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on EU shares. Wall Street Zen raised enCore Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of enCore Energy in a report on Monday, April 20th. Finally, HC Wainwright cut their price target on enCore Energy from $4.00 to $3.75 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.75.

enCore Energy Company Profile

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.