Why These Energy Stocks Are Gaining This Week

7. enCore Energy Corp. (NASDAQ:EU)

Share Price Gains Between June 11 – June 18: 15.64%

enCore Energy Corp. (NASDAQ:EU) engages in the acquisition, exploration, and development of uranium resource properties in the United States. The company utilizes ISR technology at its South Texas production facilities, resulting in a lower-cost and environmentally friendly method of uranium extraction.

enCore Energy Corp. (NASDAQ:EU) shot up recently following a boost in the global price of uranium, which surged by more than 7% over the last week. The uptick comes as investors reacted to an announcement by the Sprott Physical Uranium Trust that it would buy around $200 million worth of physical uranium, twice the amount it initially signaled in its agreement with Canaccord Genuity.

Moreover, enCore Energy Corp. (NASDAQ:EU) announced in May that it had received regulatory approval to include the Upper Spring Creek ISR Uranium Project in its existing Radioactive Materials License. The approval marks enCore’s third permitted facility in Texas, and the company revealed that drilling operations began immediately after the license was granted.

The share price of enCore Energy Corp. (NASDAQ:EU) has surged by more than 52% over the last month.