enCore Energy (CVE:EU) Trading Down 8.5% – Here’s What Happened

enCore Energy Corp. (CVE:EU)’s stock price dropped 8.5% during mid-day trading on Friday . The stock traded as low as C$2.22 and last traded at C$2.27. Approximately 107,825 shares changed hands during trading, a decline of 69% from the average daily volume of 346,987 shares. The stock had previously closed at C$2.48.

Analysts Set New Price Targets

Separately, Ventum Cap Mkts upgraded enCore Energy to a “strong-buy” rating in a research report on Monday, March 10th.

enCore Energy Stock Performance

The stock has a market cap of C$303.32 million, a P/E ratio of -5.39 and a beta of 1.20. The firm’s fifty day simple moving average is C$3.79 and its 200-day simple moving average is C$4.69.

Insider Transactions at enCore Energy

In other enCore Energy news, Director William Morris Sheriff purchased 35,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of C$2.37 per share, with a total value of C$83,079.36. 2.12% of the stock is currently owned by corporate 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.