Van ECK Associates Corp Raises Stock Holdings in enCore Energy Corp. $EU

Van ECK Associates Corp increased its stake in enCore Energy Corp. (NASDAQ:EU) by 76.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,972,156 shares of the company’s stock after purchasing an additional 6,933,454 shares during the period. Van ECK Associates Corp owned approximately 8.53% of enCore Energy worth $51,271,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Marshall Wace LLP grew its stake in enCore Energy by 293.9% in the 2nd quarter. Marshall Wace LLP now owns 1,262,065 shares of the company’s stock worth $3,610,000 after buying an additional 941,691 shares in the last quarter. Vident Advisory LLC raised its position in shares of enCore Energy by 32.9% during the 2nd quarter. Vident Advisory LLC now owns 3,172,762 shares of the company’s stock valued at $9,045,000 after buying an additional 785,568 shares in the last quarter. MMCAP International Inc. SPC raised its position in shares of 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 in the last quarter. Azarias Capital Management L.P. lifted its holdings in shares of enCore Energy by 9.6% during the 3rd quarter. Azarias Capital Management L.P. now owns 4,032,939 shares of the company’s stock worth $12,946,000 after acquiring an additional 352,775 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in enCore Energy by 6.2% in the second quarter. Geode Capital Management LLC now owns 2,371,758 shares of the company’s stock worth $6,783,000 after acquiring an additional 139,010 shares in the last quarter. 20.86% of the stock is owned by hedge funds and other institutional investors.

enCore Energy Price Performance

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

Insider Activity

In other news, insider William M. Sheriff sold 24,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $2.37, for a total transaction of $56,880.00. Following the transaction, the insider directly owned 2,262,055 shares of the company’s stock, valued at approximately $5,361,070.35. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 50,500 shares of company stock worth $124,910 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

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.