NexGen Energy (TSE:NXE) Hits New 12-Month High After Analyst Upgrade

NexGen Energy Ltd. (TSE:NXE)’s stock price reached a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from C$10.00 to C$15.00. The company traded as high as C$12.22 and last traded at C$12.19, with a volume of 1953686 shares traded. The stock had previously closed at C$11.65.

NXE has been the topic of a number of other research reports. Cormark raised their target price on shares of NexGen Energy from C$13.00 to C$13.50 in a research note on Wednesday. Haywood Securities raised their target price on shares of NexGen Energy from C$12.50 to C$13.75 in a research note on Wednesday. Raymond James raised their target price on shares of NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday. TD Securities cut their target price on shares of NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Ventum Financial raised their target price on shares of NexGen Energy from C$12.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, NexGen Energy has a consensus rating of “Buy” and an average price target of C$14.42.

NexGen Energy Stock Performance

The stock has a market capitalization of C$6.88 billion, a P/E ratio of 70.88 and a beta of 1.76. The company’s 50-day moving average is C$9.56 and its two-hundred day moving average is C$9.47. The company has a current ratio of 1.20, a quick ratio of 8.20 and a debt-to-equity ratio of 39.09.

NexGen Energy (TSE:NXE) last released its quarterly earnings results on Thursday, November 7th. The company reported C($0.05) EPS for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.01). During the same period in the prior year, the company posted ($0.03) EPS. As a group, sell-side analysts anticipate that NexGen Energy Ltd. will post -0.07 EPS for the current fiscal year.

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.