NexGen Energy (TSE:NXE) Price Target Raised to C$14.00

Key Points

• NexGen Energy's price target has been raised by National Bankshares from C$12.00 to C$14.00, indicating a potential upside of 15.51% from its current trading price.
• The company has received several positive ratings from brokerages, with a consensus "Buy" rating and an average price target of C$13.34.
• In a recent transaction, Director Richard J. Patricio sold 125,000 shares for C$1,175,000, reducing their stake in the company by 8.96%.

NexGen Energy (TSE:NXE - Get Free Report) had its price objective lifted by analysts at National Bankshares from C$12.00 to C$14.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' price objective would indicate a potential upside of 15.51% from the stock's current price.

Several other brokerages have also recently issued reports on NXE. TD Securities lifted their price target on NexGen Energy from C$11.00 to C$12.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Desjardins set a C$13.50 target price on NexGen Energy and gave the company a "buy" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$13.34.

NexGen Energy Price Performance

Shares of TSE:NXE traded down C$0.45 during trading on Wednesday, reaching C$12.12. The company had a trading volume of 1,914,315 shares, compared to its average volume of 1,807,224. NexGen Energy has a twelve month low of C$5.59 and a twelve month high of C$13.06. The firm has a market capitalization of C$6.92 billion, a PE ratio of -36.73 and a beta of 1.61. The firm's fifty day moving average is C$10.14 and its 200 day moving average is C$8.60. The company has a debt-to-equity ratio of 35.49, a quick ratio of 8.20 and a current ratio of 1.16.

Insiders Place Their Bets

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

NexGen Energy Company Profile

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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