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

NexGen Energy Ltd. (TSE:NXE)’s share 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.

A number of other research firms have also weighed in on NXE. Raymond James increased their price objective on shares of NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday. Haywood Securities lifted their price objective on NexGen Energy from C$12.50 to C$13.75 in a research note on Wednesday. Cormark upped their target price on NexGen Energy from C$13.00 to C$13.50 in a research note on Wednesday. Scotiabank lifted their price target on NexGen Energy from C$12.75 to C$14.00 in a research report on Wednesday. Finally, TD Securities lowered their price objective on NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$14.42.

NexGen Energy Stock Up 4.7 %

The company has a quick ratio of 8.20, a current ratio of 1.20 and a debt-to-equity ratio of 39.09. The firm has a market capitalization of C$6.89 billion, a PE ratio of 70.88 and a beta of 1.76. The business has a 50-day moving average price of C$9.56 and a 200-day moving average price of C$9.47.

NexGen Energy (TSE:NXE) last announced its quarterly 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 quarter in the previous year, the business earned ($0.03) EPS. Equities research analysts forecast that NexGen Energy Ltd. will post -0.07 earnings per share 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.