NexGen Energy (TSE:NXE) Trading Down 4% – Here’s What Happened

Shares of NexGen Energy Ltd. (TSE:NXE) traded down 4% during mid-day trading on Friday . The stock traded as low as C$8.76 and last traded at C$8.83. 142,385 shares changed hands during trading, a decline of 90% from the average session volume of 1,463,503 shares. The stock had previously closed at C$9.20.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Scotiabank lifted their target price on shares of NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday, November 20th. National Bankshares raised their price target on shares of NexGen Energy from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Raymond James raised their price target on shares of NexGen Energy from C$12.00 to C$13.50 in a research report on Wednesday, November 20th. Cormark raised their price target on shares of NexGen Energy from C$13.00 to C$13.50 in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada raised their price target on shares of NexGen Energy from C$10.00 to C$15.00 in a research report on Thursday, November 21st. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, NexGen Energy presently has a consensus rating of “Buy” and an average price target of C$13.59.

NexGen Energy Stock Performance

The business’s 50-day simple moving average is C$10.00 and its 200 day simple moving average is C$9.56. The company has a debt-to-equity ratio of 35.49, a quick ratio of 8.20 and a current ratio of 1.16. The firm has a market cap of C$5.01 billion, a P/E ratio of 33.92 and a beta of 1.76.

Insider Activity

In other news, Director Leigh Robert Curyer sold 1,250,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of C$11.55, for a total transaction of C$14,442,875.00. Insiders own 7.96% 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.