Scotiabank Cuts NexGen Energy (TSE:NXE) Price Target to C$12.50

NexGen Energy (TSE:NXE) had its target price trimmed by Scotiabank from C$13.50 to C$12.50 in a report released on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. Raymond James decreased their price target on shares of NexGen Energy from C$13.50 to C$13.00 in a research note on Thursday, May 9th. Cormark cut their price objective on shares of NexGen Energy from C$13.75 to C$13.00 in a report on Friday. Ventum Cap Mkts raised shares of NexGen Energy to a strong-buy rating in a report on Monday, July 8th. Haywood Securities raised shares of NexGen Energy to a strong-buy rating in a report on Friday, May 17th. Finally, Ventum Financial cut their price objective on shares of NexGen Energy from C$12.50 to C$12.00 in a report on Monday, July 8th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NexGen Energy currently has an average rating of Buy and an average price target of C$12.83.

NexGen Energy Trading Down 4.8 %

TSE:NXE opened at C$7.71 on Friday. The company has a debt-to-equity ratio of 19.12, a current ratio of 1.96 and a quick ratio of 8.20. The firm has a market capitalization of C$4.32 billion, a price-to-earnings ratio of 70.09 and a beta of 1.82. NexGen Energy has a one year low of C$6.25 and a one year high of C$12.14. The business has a fifty day moving average price of C$9.54 and a 200-day moving average price of C$10.13.

NexGen Energy (TSE:NXE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.02). Sell-side analysts forecast that NexGen Energy will post -0.07 EPS for the current year.

Insider Transactions at NexGen Energy

In other news, Director Bradley John Wall sold 188,000 shares of the firm’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of C$7.42, for a total value of C$1,395,336.00. In related news, Director Richard J. Patricio sold 175,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$9.67, for a total value of C$1,692,285.00. Also, Director Bradley John Wall sold 188,000 shares of NexGen Energy stock in a transaction dated Friday, July 12th. The stock was sold at an average price of C$7.42, for a total transaction of C$1,395,336.00. Company insiders own 8.23% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.