Raymond James Forecasts Strong Price Appreciation for NexGen Energy (TSE:NXE) Stock

NexGen Energy (TSE:NXE) had its price objective lifted by analysts at Raymond James from C$12.00 to C$13.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 10.66% from the company’s previous close. Raymond James also issued estimates for NexGen Energy’s FY2024 earnings at ($0.07) EPS.

Other analysts also recently issued reports about the stock. TD Securities decreased their target price on shares of NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. National Bank Financial raised shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada reduced their price target on NexGen Energy from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Ventum Financial increased their price objective on NexGen Energy from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, Scotiabank boosted their target price on NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NexGen Energy presently has a consensus rating of “Buy” and an average price target of C$14.42.

NexGen Energy Stock Up 4.7 %

Shares of TSE:NXE opened at C$12.20 on Wednesday. NexGen Energy has a 52 week low of C$7.04 and a 52 week high of C$12.23. 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 company has a market cap of C$6.89 billion, a PE ratio of 70.88 and a beta of 1.76. The firm has a 50 day simple moving average of C$9.56 and a 200 day simple moving average of C$9.47.

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 analysts’ consensus estimates of C($0.04) by C($0.01). During the same quarter in the prior year, the business posted ($0.03) earnings per share. As a group, research analysts expect that NexGen Energy 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.