NexGen Energy (TSE:NXE) Shares Up 0.6% – Time to Buy?

NexGen Energy Ltd. (TSE:NXE)’s stock price rose 0.6% during trading on Monday . The company traded as high as C$9.80 and last traded at C$9.77. Approximately 965,949 shares changed hands during trading, a decline of 51% from the average daily volume of 1,986,876 shares. The stock had previously closed at C$9.71.

Analyst Ratings Changes

NXE has been the topic of a number of analyst reports. Ventum Financial upped 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. Cormark lowered their price objective on NexGen Energy from C$13.75 to C$13.00 in a research note on Friday, August 2nd. National Bank Financial raised NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. National Bankshares set a C$11.00 price target on NexGen Energy and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, TD Securities dropped their price objective on NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NexGen Energy currently has a consensus rating of “Buy” and an average target price of C$13.13.

NexGen Energy Stock Performance

The stock has a 50 day moving average price of C$8.33 and a two-hundred day moving average price of C$9.53. The company has a debt-to-equity ratio of 39.09, a current ratio of 1.20 and a quick ratio of 8.20. The company has a market capitalization of C$6.24 billion, a price-to-earnings ratio of 62.88 and a beta of 1.76.

NexGen Energy (TSE:NXE) last issued its quarterly earnings data on Wednesday, August 7th. The company reported C($0.02) EPS for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.02. On average, analysts predict that NexGen Energy Ltd. will post -0.07 EPS for the current fiscal year.

About NexGen Energy

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.