Van ECK Associates Corp Increases Stake in enCore Energy Corp. $EU

Van ECK Associates Corp grew its stake in shares of enCore Energy Corp. (NASDAQ:EU) by 76.7% in the third quarter, HoldingsChannel.com reports. The firm owned 15,972,156 shares of the company’s stock after buying an additional 6,933,454 shares during the quarter. Van ECK Associates Corp owned about 0.09% of enCore Energy worth $51,271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MMCAP International Inc. SPC boosted its position in enCore Energy by 13.0% during the 3rd quarter. MMCAP International Inc. SPC now owns 4,316,838 shares of the company’s stock valued at $13,857,000 after buying an additional 497,337 shares during the period. Los Angeles Capital Management LLC bought a new stake in enCore Energy in the 2nd quarter worth $68,000. Azarias Capital Management L.P. increased its position in shares of enCore Energy by 9.6% in the third quarter. Azarias Capital Management L.P. now owns 4,032,939 shares of the company’s stock valued at $12,946,000 after acquiring an additional 352,775 shares during the period. Hohimer Wealth Management LLC purchased a new position in shares of enCore Energy in the third quarter valued at about $62,000. Finally, Goehring & Rozencwajg Associates LLC raised its stake in shares of enCore Energy by 0.3% during the third quarter. Goehring & Rozencwajg Associates LLC now owns 1,165,336 shares of the company’s stock valued at $3,741,000 after acquiring an additional 4,016 shares during the last quarter. 20.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on EU shares. Northland Securities assumed coverage on shares of enCore Energy in a report on Tuesday, January 6th. They set an “outperform” rating and a $3.50 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of enCore Energy in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut enCore Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.83.

enCore Energy Stock Up 4.6%

Shares of NASDAQ:EU opened at $2.05 on Wednesday. The firm has a market capitalization of $392.76 million, a P/E ratio of -7.32 and a beta of 2.10. The company has a debt-to-equity ratio of 0.39, a quick ratio of 12.48 and a current ratio of 13.64. The stock has a 50 day moving average price of $2.77 and a 200-day moving average price of $2.77. enCore Energy Corp. has a 52-week low of $1.01 and a 52-week high of $4.19.

Insiders Place Their Bets

In other enCore Energy news, insider William M. Sheriff sold 10,000 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $2.81, for a total value of $28,100.00. Following the completion of the transaction, the insider owned 2,876 shares in the company, valued at approximately $8,081.56. This represents a 77.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 50,500 shares of company stock valued at $124,910 over the last 90 days. 3.90% of the stock is owned by corporate insiders.

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.