NexGen Energy (TSE:NXE) Price Target Raised to C$16.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has raised the price target for NexGen Energy (TSE:NXE) from C$14.00 to C$16.00, indicating a potential upside of 35.36% from the previous close.
• Other analysts have also increased their price targets, with Scotiabank setting it at C$14.00 and Canaccord Genuity at C$18.50, reflecting a generally positive outlook for the stock.
• NexGen Energy's stock has traded down to C$11.82, with a market capitalization of C$7.34 billion and a consensus rating of "Buy" among analysts.

NexGen Energy (TSE:NXE - Get Free Report) had its price target upped by equities researchers at BMO Capital Markets from C$14.00 to C$16.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets' price target would suggest a potential upside of 35.36% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank upped their target price on shares of NexGen Energy from C$12.00 to C$14.00 in a report on Tuesday. TD Securities lifted their target price on NexGen Energy from C$11.00 to C$12.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus lifted their target price on NexGen Energy from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. National Bankshares raised their price target on NexGen Energy from C$12.00 to C$14.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Canaccord Genuity Group increased their price objective on shares of NexGen Energy from C$16.00 to C$18.50 in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of C$14.61.

NexGen Energy Stock Performance

NXE stock traded down C$0.82 during trading hours on Friday, reaching C$11.82. The stock had a trading volume of 4,199,659 shares, compared to its average volume of 1,963,056. The stock has a market capitalization of C$7.34 billion, a PE ratio of -35.82 and a beta of 1.57. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.16 and a quick ratio of 8.20. The stock has a 50-day simple moving average of C$11.14 and a 200 day simple moving average of C$9.25. NexGen Energy has a fifty-two week low of C$5.59 and a fifty-two week high of C$13.75.

Insider Buying and Selling at NexGen Energy

In other news, Director Richard J. Patricio sold 125,000 shares of NexGen Energy stock in a transaction 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 completion of the sale, the director owned 1,269,900 shares of the company's stock, valued at approximately C$11,937,060. This trade represents a 8.96% decrease in their ownership of the stock. Corporate 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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