HC Wainwright Forecasts Reduced Earnings for enCore Energy

enCore Energy Corp. (NASDAQ:EU) – Analysts at HC Wainwright lowered their FY2024 earnings per share estimates for enCore Energy in a research report issued to clients and investors on Tuesday, November 19th. HC Wainwright analyst H. Ihle now expects that the company will earn ($0.20) per share for the year, down from their prior estimate of ($0.13). HC Wainwright currently has a “Buy” rating and a $7.00 target price on the stock. The consensus estimate for enCore Energy’s current full-year earnings is ($0.11) per share.

Separately, Ventum Cap Mkts upgraded shares of enCore Energy to a “strong-buy” rating in a report on Thursday, August 22nd.

enCore Energy Stock Down 2.3 %

Shares of enCore Energy stock opened at $3.85 on Thursday. The stock’s fifty day moving average is $3.95 and its two-hundred day moving average is $3.97. enCore Energy has a 52 week low of $3.02 and a 52 week high of $5.05. The company has a market capitalization of $716.24 million, a PE ratio of -13.75 and a beta of 0.05.

Hedge Funds Weigh In On enCore Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rathbones Group PLC purchased a new stake in enCore Energy in the second quarter worth about $39,000. Xponance Inc. bought a new position in shares of enCore Energy during the second quarter valued at approximately $43,000. Sei Investments Co. purchased a new position in enCore Energy during the second quarter valued at approximately $46,000. Virtu Financial LLC bought a new position in enCore Energy in the first quarter worth approximately $84,000. Finally, Principal Financial Group Inc. lifted its holdings in enCore Energy by 19.6% during the second quarter. Principal Financial Group Inc. now owns 22,317 shares of the company’s stock worth $88,000 after buying an additional 3,652 shares during the period. Institutional investors own 20.86% of the company’s stock.

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.