Royal Bank of Canada Boosts NexGen Energy (TSE:NXE) Price Target to C$15.00

NexGen Energy (TSE:NXE) had its target price raised by equities research analysts at Royal Bank of Canada from C$10.00 to C$15.00 in a report issued on Thursday,BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 20.77% from the stock’s previous close.

Several other equities analysts have also weighed in on NXE. TD Securities cut their price target 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. National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Cormark boosted their price objective on NexGen Energy from C$13.00 to C$13.50 in a research note on Wednesday. Ventum Financial boosted their price objective on 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. Finally, Raymond James boosted their price objective on NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NexGen Energy currently has a consensus rating of “Buy” and an average target price of C$14.42.

NexGen Energy Stock Performance

TSE NXE opened at C$12.42 on Thursday. The stock has a 50-day simple moving average of C$9.66 and a two-hundred day simple moving average of C$9.48. The firm has a market capitalization of C$7.01 billion, a P/E ratio of 71.76 and a beta of 1.76. NexGen Energy has a fifty-two week low of C$7.04 and a fifty-two week high of C$12.51. The company has a debt-to-equity ratio of 39.09, a quick ratio of 8.20 and a current ratio of 1.20.

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 firm posted ($0.03) earnings per share. On average, equities analysts forecast that NexGen Energy 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.