enCore Energy (CVE:EU) Stock Price Down 15.9% – Here’s Why

enCore Energy Corp. (CVE:EUGet Free Report)’s stock price was down 15.9% on Monday . The company traded as low as C$1.08 and last traded at C$1.27. 1,691,742 shares traded hands during mid-day trading, an increase of 249% from the average daily volume of 484,232 shares. The stock had previously closed at C$1.51.

Analyst Upgrades and Downgrades

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

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enCore Energy Trading Up 1.6%

The company has a market cap of C$250.62 million, a P/E ratio of -3.91 and a beta of 1.71. The company’s 50-day moving average price is C$1.68 and its two-hundred day moving average price is C$2.15.

Insider Buying and Selling

In other news, Director William Morris Sheriff acquired 100,000 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of C$1.17 per share, with a total value of C$117,000.00. Following the completion of the acquisition, the director directly owned 1,512,169 shares in the company, valued at C$1,769,237.73. This represents a 7.08% increase in their ownership of the stock. Company insiders own 2.12% of the company’s stock.

enCore Energy Company Profile

(Get Free Report)

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.

Further Reading

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