Cantor upgrades EnCore Energy to Buy on Alta Mesa mine improvement

Cantor Fitzgerald upgraded EnCore Energy (EU) to Buy from Speculative Buy with an unchanged price target of $3.25 after the company reported a “positive operational update” along with monthly production results at its Alta Mesa in-situ recovery uranium mine in south Texas. Alta Mesa uranium extraction continues to scale-up, with consistent month-over-month improvement, the analyst noted. The momentum is being driven by accelerated wellfield development and improved runtime, which supports further production growth, the analyst added.