enCore Energy Corp. $EU is Azarias Capital Management L.P.’s 3rd Largest Position

Azarias Capital Management L.P. cut its stake in shares of enCore Energy Corp. (NASDAQ:EU) by 27.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,680,164 shares of the company’s stock after selling 1,423,181 shares during the period. enCore Energy comprises approximately 4.8% of Azarias Capital Management L.P.’s holdings, making the stock its 3rd largest position. Azarias Capital Management L.P.’s holdings in enCore Energy were worth $10,525,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EU. Ameriprise Financial Inc. purchased a new stake in enCore Energy during the fourth quarter valued at $73,000. Bank of America Corp DE increased its position in shares of enCore Energy by 9.4% during the 4th quarter. Bank of America Corp DE now owns 174,301 shares of the company’s stock valued at $594,000 after purchasing an additional 14,934 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of enCore Energy during the 4th quarter valued at about $69,000. Accordant Advisory Group Inc increased its position in shares of enCore Energy by 66.4% during the 1st quarter. Accordant Advisory Group Inc now owns 274,813 shares of the company’s stock valued at $376,000 after purchasing an additional 109,652 shares during the last quarter. Finally, Sovran Advisors LLC purchased a new stake in shares of enCore Energy during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 20.86% of the company’s stock.

enCore Energy Price Performance

Shares of NASDAQ EU opened at $3.25 on Friday. enCore Energy Corp. has a 1 year low of $1.01 and a 1 year high of $4.44. The stock has a market cap of $608.06 million, a PE ratio of -9.29 and a beta of 1.98. The firm has a fifty day moving average price of $2.65 and a 200-day moving average price of $2.21.

enCore Energy (NASDAQ:EU) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.07) earnings per share (EPS) for the quarter. enCore Energy had a negative return on equity of 19.23% and a negative net margin of 143.28%.The business had revenue of $3.66 million during the quarter. On average, research analysts expect that enCore Energy Corp. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EU. HC Wainwright upped their target price on shares of enCore Energy from $2.75 to $4.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. B. Riley started coverage on enCore Energy in a research note on Wednesday, July 23rd. They issued a “buy” rating and a $4.00 price objective for the company. Zacks Research upgraded enCore Energy to a “hold” rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded enCore Energy from a “sell” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of enCore Energy in a research report on Saturday, September 27th. One research analyst has 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.00.

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.