MMCAP International Inc. SPC Has $7.85 Million Stock Position in enCore Energy Corp. (NASDAQ:EU)

MMCAP International Inc. SPC grew its holdings in shares of enCore Energy Corp. (NASDAQ:EU) by 64.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,301,509 shares of the company’s stock after acquiring an additional 899,901 shares during the period. enCore Energy makes up 1.2% of MMCAP International Inc. SPC’s investment portfolio, making the stock its 24th largest holding. MMCAP International Inc. SPC’s holdings in enCore Energy were worth $7,848,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EU. Van ECK Associates Corp boosted its holdings in enCore Energy by 89.3% during the third quarter. Van ECK Associates Corp now owns 2,434,342 shares of the company’s stock worth $9,762,000 after purchasing an additional 1,148,056 shares during the last quarter. Arlington Capital Management Inc. boosted its holdings in enCore Energy by 2.6% during the third quarter. Arlington Capital Management Inc. now owns 222,035 shares of the company’s stock worth $897,000 after purchasing an additional 5,655 shares during the last quarter. Intech Investment Management LLC purchased a new position in enCore Energy during the third quarter worth about $110,000. Charles Schwab Investment Management Inc. boosted its holdings in enCore Energy by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 437,297 shares of the company’s stock worth $1,767,000 after purchasing an additional 15,740 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in enCore Energy during the third quarter worth about $96,000. 20.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other enCore Energy news, Chairman William M. Sheriff sold 24,000 shares of enCore Energy stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $3.20, for a total value of $76,800.00. Following the sale, the chairman now owns 2,120,055 shares of the company’s stock, valued at approximately $6,784,176. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

enCore Energy Stock Performance

Shares of EU stock opened at $2.48 on Wednesday. The firm has a market cap of $461.70 million, a price-to-earnings ratio of -8.86 and a beta of 0.12. enCore Energy Corp. has a 52 week low of $2.46 and a 52 week high of $5.05. The firm’s 50-day simple moving average is $3.23 and its two-hundred day simple moving average is $3.55.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of enCore Energy in a report on Tuesday, November 19th.

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 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.