NexGen Energy (TSE:NXE) Hits New 1-Year High on Analyst Upgrade

NexGen Energy Ltd. (TSE:NXE) reached a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$12.00 to C$14.00. The stock traded as high as C$13.21 and last traded at C$13.04, with a volume of 2077647 shares. The stock had previously closed at C$12.27.

Several other analysts have also recently weighed in on NXE. TD Securities lifted their price objective on NexGen Energy from C$11.00 to C$12.00 and gave the company a “buy” rating in a research report on Friday, August 8th. National Bankshares raised their target price on NexGen Energy from C$12.00 to C$14.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, Stifel Nicolaus upped their price target on NexGen Energy from C$16.00 to C$17.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, NexGen Energy presently has an average rating of “Buy” and an average target price of C$14.03.

Insider Activity

In other news, Director Richard J. Patricio sold 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of C$9.40, for a total value of C$1,175,000.00. Following the sale, the director directly owned 1,269,900 shares of the company’s stock, valued at C$11,937,060. The trade was a 8.96% decrease in their position. Insiders own 7.96% of the company’s stock.

NexGen Energy Stock Up 7.6%

The company has a debt-to-equity ratio of 35.49, a current ratio of 1.16 and a quick ratio of 8.20. The stock has a 50 day simple moving average of C$11.02 and a 200-day simple moving average of C$9.18. The firm has a market cap of C$8.20 billion, a PE ratio of -40.00 and a beta of 1.57.

About NexGen Energy

NexGen Energy Ltd is a mineral exploration company. It is engaged in the acquisition, exploration, evaluation and development of uranium properties in Canada. The company’s projects portfolio consists of ROOK I, Radio Property, and the IsoEnergy, at the Athabasca Basin. The Rook I property hosts the world-class Arrow Zone, the Bow discovery.