NexGen Energy (TSE:NXE) Stock Price Up 0.6% – Here’s What Happened

NexGen Energy Ltd. (TSE:NXE)’s share 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 were traded 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 Upgrades and Downgrades

A number of equities research analysts recently commented on NXE shares. Royal Bank of Canada dropped their price objective on NexGen Energy from C$11.00 to C$10.00 and set an “outperform” rating for the company in a report on Monday, August 12th. 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. Ventum Financial lifted their price objective on shares of NexGen Energy from C$12.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Cormark decreased their price objective on shares of NexGen Energy from C$13.75 to C$13.00 in a report on Friday, August 2nd. Finally, Raymond James cut their target price on shares of NexGen Energy from C$13.00 to C$12.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$13.13.

NexGen Energy Stock Up 10.3 %

The company has a debt-to-equity ratio of 39.09, a quick ratio of 8.20 and a current ratio of 1.20. The firm’s fifty day simple moving average is C$8.33 and its 200 day simple moving average is C$9.53. The stock 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) earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.02. On average, sell-side analysts forecast that NexGen Energy Ltd. will post -0.07 earnings per share for the current 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.