enCore Energy shareholders approve board, executive pay

In a recent development, enCore Energy (NASDAQ:EU) Corp. held its Annual General Meeting (AGM) on Wednesday, where shareholders voted on several key proposals. According to InvestingPro data, the company, currently valued at $392.5 million, maintains a strong liquidity position with more cash than debt and a healthy current ratio of 2.94x. The meeting saw the approval of all items as outlined in the company’s definitive proxy statement filed on April 24, 2025.

The AGM, which took place on June 11, 2025, had a total of 186,686,281 common shares eligible to vote, based on the record date of April 17, 2025. Shareholders voted to elect the proposed slate of directors, with all nominees set to serve until the 2026 annual general meeting. The company’s stock, which analysts believe is currently undervalued according to InvestingPro’s Fair Value analysis, has seen significant price movement, trading between $1.01 and $4.50 over the past 52 weeks.

The voting results for the election of directors were affirmative, with William Sheriff, Dennis Stover, William Harris, Mark Pelizza, Susan Hoxie-Key, Stacy Nieuwoudt, Robert Willette, and Nathan Tewalt all securing their positions on the board. The vote counts showcased a strong majority in favor, with broker non-votes recorded for each candidate.

Additionally, the compensation of the company’s named executive officers received approval on an advisory basis. The vote on the frequency of future advisory votes on executive compensation resulted in the selection of "one year" as the preferred interval, which was also supported by a majority.

Furthermore, the appointment of KPMG LLP as enCore Energy Corp.’s independent registered public accounting firm for the year 2025 was ratified, with the directors authorized to fix the remuneration. The vote in favor was overwhelming, with no votes against and a minimal number of abstentions.

The outcomes of these votes are set to influence the company’s governance and executive compensation practices for the upcoming year. This information is based on the company’s recent SEC filing, which provides a transparent view of the shareholder voting results from the AGM. While the company faces near-term challenges with negative EBITDA of $70.5 million in the last twelve months, analysts maintain a bullish consensus with price targets ranging from $3.03 to $5.27. For deeper insights into enCore Energy’s financial health and growth prospects, InvestingPro offers 12 additional investment tips and comprehensive financial analysis.

In other recent news, enCore Energy Corp. reported a substantial increase in revenue, reaching $58.3 million for the year, compared to $22.1 million in 2023. This growth was primarily driven by the sale of 720,000 pounds of uranium oxide at an average price of $81.00 per pound. Despite the revenue boost, enCore Energy experienced a net loss of $68.0 million, deepening from the previous year’s loss of $25.6 million. H.C. Wainwright analysts have maintained a Buy rating on enCore Energy but reduced the stock’s price target to $2.75 from $7.00, citing changes in valuation and production forecasts.

Additionally, enCore Energy has finalized the sale of its New Mexico uranium projects to Verdera Energy Corp. The deal includes the Crownpoint and Hosta Butte properties, with enCore receiving 50 million non-voting preferred shares in Verdera and a 2% royalty on future production. In other developments, enCore Energy secured approval for its Upper Spring Creek Uranium Project in Texas, allowing the commencement of wellfield construction. Furthermore, Nathan Tewalt has rejoined enCore’s Board of Directors, bringing over 40 years of industry experience to the company. These recent developments reflect enCore Energy’s strategic moves in the uranium extraction industry.

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