NexGen Energy Ltd. (TSE:NXE) Given Consensus Rating of "Buy" by Brokerages

Key Points

• NexGen Energy Ltd. has received a consensus rating of "Buy" from five research firms, with an average target price of C$14.61.
• Analysts have recently raised their target prices for NexGen Energy, with Canaccord Genuity estimating a target of C$18.50 and BMO Capital Markets at C$16.00.
• Insider Richard J. Patricio sold 125,000 shares of NexGen Energy at an average price of C$9.40, reducing his ownership stake by approximately 8.96%.

NexGen Energy Ltd. (TSE:NXE - Get Free Report) has been assigned an average rating of "Buy" from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$14.61.

Several equities analysts have recently commented on the company. National Bankshares upped their target price on NexGen Energy from C$12.00 to C$14.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Scotiabank upped their target price on NexGen Energy from C$12.00 to C$14.00 in a research report on Tuesday, October 14th. Canaccord Genuity Group upped their target price on NexGen Energy from C$16.00 to C$18.50 in a research report on Friday. BMO Capital Markets upped their target price on NexGen Energy from C$14.00 to C$16.00 in a research report on Friday. Finally, Stifel Nicolaus upped their target price on NexGen Energy from C$16.00 to C$17.00 and gave the company a "buy" rating in a research report on Friday, September 26th.

NexGen Energy Price Performance

TSE:NXE opened at C$12.21 on Tuesday. The company has a quick ratio of 8.20, a current ratio of 1.16 and a debt-to-equity ratio of 35.49. The stock's 50 day moving average price is C$11.25 and its two-hundred day moving average price is C$9.37. The firm has a market capitalization of C$7.58 billion, a price-to-earnings ratio of -37.00 and a beta of 1.57. NexGen Energy has a 12-month low of C$5.59 and a 12-month high of C$13.75.

Insider Activity at NexGen Energy

In related news, Director Richard J. Patricio sold 125,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of C$9.40, for a total transaction of C$1,175,000.00. Following the sale, the director owned 1,269,900 shares of the company's stock, valued at C$11,937,060. This represents a 8.96% decrease in their ownership of the stock. 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.

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