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

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

Several other analysts also recently weighed in on the stock. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Haywood Securities lifted their target price on shares of NexGen Energy from C$12.50 to C$13.75 in a report on Wednesday. Cormark lifted their target price on shares of NexGen Energy from C$13.00 to C$13.50 in a report on Wednesday. National Bankshares boosted their price target on shares of NexGen Energy from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Scotiabank boosted their price target on shares of NexGen Energy from C$12.75 to C$14.00 in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$14.42.

NexGen Energy Stock Up 4.6 %

The stock has a market capitalization of C$6.88 billion, a PE ratio of 70.88 and a beta of 1.76. The firm’s fifty day moving average is C$9.56 and its 200-day moving average is C$9.47. The company has a quick ratio of 8.20, a current ratio of 1.20 and a debt-to-equity ratio of 39.09.

NexGen Energy (TSE:NXE) last issued its earnings results on Thursday, November 7th. The company reported C($0.05) earnings per share for the quarter, missing the consensus estimate of C($0.04) by C($0.01). During the same period in the prior year, the business posted ($0.03) EPS. On average, equities research analysts predict that NexGen Energy Ltd. will post -0.07 earnings per share for the current 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.