enCore Energy (CVE:EU) Shares Down 7.2% – Here’s What Happened

enCore Energy Corp. (CVE:EU)’s share price dropped 7.2% during trading on Tuesday. The company traded as low as C$1.27 and last traded at C$1.29. Approximately 202,265 shares changed hands during trading, a decline of 60% from the average session volume of 506,669 shares. The stock had previously closed at C$1.39.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded enCore Energy to a “strong-buy” rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating. According to MarketBeat, enCore Energy has a consensus rating of “Strong Buy”.

enCore Energy Stock Down 3.3%

The firm has a market cap of C$225.37 million, a P/E ratio of -3.52 and a beta of 2.43. The firm has a fifty day moving average of C$1.60 and a 200-day moving average of C$1.96.

Insiders Place Their Bets

In other news, Director William Morris Sheriff purchased 100,000 shares of the company’s stock in a transaction on Friday, September 18th. The shares were purchased at an average cost of C$1.14 per share, with a total value of C$114,000.00. Following the completion of the transaction, the director owned 1,662,169 shares of the company’s stock, valued at C$1,894,872.66. The trade was a 6.40% increase in their position. Insiders have acquired 250,000 shares of company stock worth $293,000 in the last 90 days. 2.12% of the stock is currently owned by insiders.

enCore Energy Company Profile

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.