NexGen Energy (TSE:NXE) Sets New 1-Year Low – Here’s Why

NexGen Energy Ltd. (TSE:NXE) shares reached a new 52-week low on Monday . The company traded as low as C$0.00 and last traded at C$7.16, with a volume of 1222916 shares trading hands. The stock had previously closed at C$7.63.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NXE shares. Royal Bank of Canada raised their price target on shares of NexGen Energy from C$10.00 to C$15.00 in a research note on Thursday, November 21st. Raymond James raised their target price on NexGen Energy from C$12.00 to C$13.50 in a research report on Wednesday, November 20th. Haywood Securities upped their price target on NexGen Energy from C$12.50 to C$13.75 in a research report on Wednesday, November 20th. Scotiabank lifted their price objective on NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday, November 20th. Finally, Cormark upped their price objective on shares of NexGen Energy from C$13.00 to C$13.50 in a report on Wednesday, November 20th. Six investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$13.59.

NexGen Energy Stock Down 9.0 %

The stock has a fifty day simple moving average of C$9.41 and a two-hundred day simple moving average of C$9.53. The firm has a market cap of C$3.93 billion, a PE ratio of 26.57 and a beta of 1.76. The company has a current ratio of 1.16, a quick ratio of 8.20 and a debt-to-equity ratio of 35.49.

Insider Activity at NexGen Energy

In other NexGen Energy news, Director Leigh Robert Curyer acquired 1,500,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of C$10.05 per share, for a total transaction of C$15,075,000.00. 7.96% of the stock is owned by corporate insiders.

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.