Uranium producer Encore slides on stock sale plans, wider loss

Royal Bank of Canada

13/08/2026 15:14

** Uranium producer Encore Energy's EU.O shares down 13.4% at $1.20 in early Thurs trading as it seeks capital after reporting wider loss
** Dallas, Texas-based co files $250 mln (or equivalent Canadian dollars) "at the market" equity offering program to be handled by Cantor Fitzgerald, RBC, B. Riley and Jett Capital
** Co, which has ~194.3 mln shares outstanding, intends to use net offering proceeds for potential acquisitions, growth opportunities and general purposes
** It posts Q2 loss of 21 cents/sh compared to loss of 3 cents a yr-ago
** For six months ended in Jun, it reports loss of 19 cents/sh vs loss of 16 cents for comparable period last year, driven primarily by lower extraction and a fair value adjustment of Verdera Energy Corp shares
** EU shares, on course to snap a 7-day winning streak, down about 50% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))