Scotiabank Lowers NexGen Energy (TSE:NXE) Price Target to C$12.00

NexGen Energy (TSE:NXE) had its price target reduced by equities researchers at Scotiabank from C$14.50 to C$12.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 71.92% from the company’s previous close.

Several other brokerages also recently commented on NXE. Cormark lifted their target price on shares of NexGen Energy from C$13.00 to C$13.50 in a report on Wednesday, November 20th. Raymond James lifted their price objective on NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday, November 20th. Royal Bank of Canada increased their target price on NexGen Energy from C$10.00 to C$15.00 in a research note on Thursday, November 21st. Haywood Securities raised their target price on NexGen Energy from C$12.50 to C$13.75 in a report on Wednesday, November 20th. Finally, 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 report on Thursday. Six equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$13.28.

NexGen Energy Trading Down 1.4 %

TSE:NXE opened at C$6.98 on Thursday. The company’s 50 day moving average is C$9.11 and its 200-day moving average is C$9.49. The company has a quick ratio of 8.20, a current ratio of 1.16 and a debt-to-equity ratio of 35.49. NexGen Energy has a 12 month low of C$6.66 and a 12 month high of C$12.51. The firm has a market cap of C$3.95 billion, a price-to-earnings ratio of 26.73 and a beta of 1.76.

Insiders Place Their Bets

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

About NexGen Energy

NexGen Energy Ltd is a mineral exploration company. It is engaged in the acquisition, exploration, evaluation and development of uranium properties in Canada. The company’s projects portfolio consists of ROOK I, Radio Property, and the IsoEnergy, at the Athabasca Basin. The Rook I property hosts the world-class Arrow Zone, the Bow discovery.