NexGen Energy (TSE:NXE) Hits New 12-Month High Following Analyst Upgrade

Key Points

• NexGen Energy shares reached a new 52-week high of C$13.21 following an analyst upgrade by Scotiabank, which raised its price target from C$12.00 to C$14.00.
• Several other analysts also increased their price targets for NexGen Energy, with an average target price now set at C$14.03 and a consensus rating of "Buy."
• The company has a market capitalization of C$8.46 billion and is involved in the acquisition and development of uranium properties in Canada, highlighting its position in the mineral exploration sector.

NexGen Energy Ltd. (TSE:NXE - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Scotiabank raised their price target on the stock from C$12.00 to C$14.00. The stock traded as high as C$13.21 and last traded at C$13.04, with a volume of 2077647 shares traded. The stock had previously closed at C$12.27.

NXE has been the topic of a number of other reports. Stifel Nicolaus boosted their target price on shares of NexGen Energy from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Friday, September 26th. TD Securities increased their price target on shares of NexGen Energy from C$11.00 to C$12.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, National Bankshares increased their target price on shares of NexGen Energy from C$12.00 to C$14.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat, NexGen Energy currently has a consensus rating of "Buy" and an average target price of C$14.03.

Insider Activity at NexGen Energy

In related news, Director Richard J. Patricio sold 125,000 shares of NexGen Energy stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of C$9.40, for a total transaction of C$1,175,000.00. Following the completion of the transaction, the director directly owned 1,269,900 shares of the company's stock, valued at C$11,937,060. This trade represents a 8.96% decrease in their position. Corporate insiders own 7.96% of the company's stock.

NexGen Energy Stock Performance

The company has a market capitalization of C$8.46 billion, a PE ratio of -41.30 and a beta of 1.57. The business's 50-day moving average is C$10.94 and its 200-day moving average is C$9.15. The company has a debt-to-equity ratio of 35.49, a quick ratio of 8.20 and a current ratio of 1.16.

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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