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enCore Energy
(NASDAQ:EU)
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Rating:47Neutral
Price Target:
$1.50
▼(-28.57% Downside)
Action:Reiterated
Date:06/23/26
The score is primarily held back by weak financial performance—sharp revenue contraction, large operating losses, and negative operating/free cash flow. Technicals are mixed but still below key longer-term averages, and valuation is constrained by ongoing unprofitability. Corporate events add a small positive offset due to supportive governance outcomes and leadership changes aimed at improving execution.
Positive Factors
U.S.-focused ISR uranium production
enCore’s emphasis on U.S. in-situ recovery (ISR) positions it in the domestic nuclear fuel supply chain, a structural market with high barriers and long lead times. ISR methods are capital- and footprint-efficient versus many conventional mines, supporting lower long-run unit costs and alignment with utility demand for domestic supply.
Negative Factors
Deep unprofitability and large operating losses
Extremely negative EBIT and net margins show the business is not yet operating at a sustainable profit. Persistent heavy losses erode equity, limit reinvestment capacity, and mean breakeven depends on sizable production ramp, durable cost reductions, or materially higher realized uranium prices—each a multi-quarter structural challenge.
Read all positive and negative factors
Positive Factors
Negative Factors
U.S.-focused ISR uranium production
enCore’s emphasis on U.S. in-situ recovery (ISR) positions it in the domestic nuclear fuel supply chain, a structural market with high barriers and long lead times. ISR methods are capital- and footprint-efficient versus many conventional mines, supporting lower long-run unit costs and alignment with utility demand for domestic supply.
Read all positive factors
enCore Energy (EU) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$256.39M
Dividend YieldN/A
Average Volume (3M)5.13M
Price to Earnings (P/E)―
Beta (1Y)2.27
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees196
SectorGeneral
Sector StrengthN/A
IndustryUranium
Share Statistics
EPS (TTM)-0.15
Shares Outstanding194,233,000
10 Day Avg. Volume6,408,297
30 Day Avg. Volume5,125,387
Financial Highlights & Ratios
PEG Ratio-0.29
Price to Book (P/B)2.02
Price to Sales (P/S)7.83
P/FCF Ratio-10.30
Enterprise Value/Market Cap1.52
Enterprise Value/Revenue9.00
Enterprise Value/Gross Profit40.30
Enterprise Value/Ebitda-19.13
Forecast
1Y Price Target
$3.75Price Target Upside78.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.18
Revenue Forecast (FY)$74.86M
enCore Energy Business Overview & Revenue Model
Company Description
enCore Energy Corp. is a U.S.-based company primarily engaged in the acquisition, exploration, and development of uranium resource properties. The firm maintains significant holdings across several key states. In New Mexico, enCore wholly owns the...
How the Company Makes Money
enCore Energy’s primary revenue model is expected to be (and to the extent it has begun production, is) the sale of uranium products into the nuclear fuel market, generally via: (1) Sales under uranium offtake contracts: The company can enter into...
enCore Energy Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
54
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.22M | 59.21M | 58.33M | 22.15M | 5.70M | 0.00 |
| Gross Profit | 9.65M | 13.30M | -7.21M | 2.58M | 2.14M | -298.67K |
| EBITDA | -20.34M | -68.40M | -67.59M | -16.88M | -30.34M | -6.76M |
| Net Income | -27.21M | -78.01M | -61.39M | -25.61M | -31.11M | -8.56M |
Balance Sheet | ||||||
| Total Assets | 451.66M | 430.42M | 392.72M | 326.57M | 300.34M | 159.36M |
| Cash, Cash Equivalents and Short-Term Investments | 111.68M | 95.99M | 63.75M | 24.38M | 7.62M | 9.19M |
| Total Debt | 113.54M | 113.25M | 20.44M | 19.71M | 242.43K | 249.51K |
| Total Liabilities | 170.46M | 172.04M | 74.18M | 64.60M | 11.39M | 10.27M |
| Stockholders Equity | 254.78M | 229.25M | 285.74M | 261.97M | 288.95M | 149.09M |
Cash Flow | ||||||
| Free Cash Flow | -56.71M | -44.99M | -56.55M | -30.71M | -107.62M | -6.64M |
| Operating Cash Flow | -38.68M | -24.99M | -45.20M | -22.99M | -92.98M | -3.97M |
| Investing Cash Flow | -44.48M | -46.22M | -29.99M | -64.62M | -16.41M | -6.05M |
| Financing Cash Flow | 97.27M | 84.74M | 107.42M | 45.90M | 100.71M | 14.09M |
enCore Energy Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | C$338.70M | -26.00 | -5.53% | ― | ― | -17.72% | |
56 Neutral | C$547.84M | 121.94 | 1.35% | ― | 136.01% | 209.71% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$215.54M | 24.89 | 3.44% | ― | ― | ― | |
47 Neutral | $256.39M | -9.16 | -10.95% | ― | ― | ― | |
43 Neutral | C$94.78M | -31.52 | -3.66% | ― | ― | 87.89% | |
42 Neutral | C$109.05M | -3.95 | -46.94% | ― | ― | -72.56% |
* General Sector Average
EU
enCore Energy
1.32
-1.36
-50.75%
TSE:AEC
Anfield Energy Inc
6.04
-2.21
-26.79%
TSE:FUU
F3 Uranium
0.15
-0.08
-33.33%
TSE:MGA
Mega Uranium
0.55
0.28
103.70%
TSE:URC
Uranium Royalty Corp
3.88
0.65
20.12%
TSE:SASK
Atha Energy Corp.
1.11
0.59
113.46%
enCore Energy Corporate Events
Executive/Board Changes
enCore Energy finalizes CEO separation and consulting terms
Neutral
Jul 9, 2026
On April 20, 2026, enCore Energy Corp. terminated Chief Executive Officer Robert J. Willette without cause, with the company stating his departure did not stem from any disagreement over operations, policies, or financial reporting. The move signa...
Executive/Board ChangesShareholder Meetings
enCore Energy Shareholders Back Board, Pay and Auditor
Positive
Jun 16, 2026
On June 10, 2026, enCore Energy held its Annual General Meeting of Shareholders, at which investors approved all proposals, including the election of seven directors to serve until the 2027 annual meeting. Shareholders also endorsed, on an advisor...
Business Operations and StrategyExecutive/Board Changes
enCore Energy Announces CEO Change and Leadership Reshuffle
Positive
Apr 20, 2026
On April 19, 2026, enCore Energy’s board appointed Richard H. Little as chief executive officer and director, effective April 20, replacing Robert Willette, whose departure was not related to any dispute over operations or financial reportin...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.