NexGen Energy (TSE:NXE) Lifted to Buy at Royal Bank of Canada

NexGen Energy (TSE:NXEGet Rating) was upgraded by equities researchers at Royal Bank of Canada to a “buy” rating in a research report issued to clients and investors on Monday, TipRanks reports. The firm presently has a C$10.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 31.75% from the stock’s current price.

Other analysts also recently issued reports about the stock. Raymond James raised their price objective on shares of NexGen Energy from C$9.00 to C$10.00 in a research report on Wednesday, March 23rd. TD Securities dropped their price objective on shares of NexGen Energy from C$10.00 to C$9.50 and set a “speculative buy” rating on the stock in a report on Friday, January 14th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$9.72.

Shares of NXE stock traded down C$0.20 during midday trading on Monday, hitting C$7.59. 1,130,993 shares of the company were exchanged, compared to its average volume of 2,089,703. The company has a debt-to-equity ratio of 16.30, a quick ratio of 25.87 and a current ratio of 26.00. The firm has a market capitalization of C$3.64 billion and a P/E ratio of -29.23. NexGen Energy has a 52 week low of C$4.31 and a 52 week high of C$8.09. The firm’s 50 day moving average price is C$6.45 and its two-hundred day moving average price is C$6.24.

NexGen Energy (TSE:NXEGet Rating) last released its quarterly earnings results on Friday, February 25th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.02). Analysts expect that NexGen Energy will post -0.05 EPS for the current year.

About NexGen Energy (Get Rating)

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

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