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

Key Points

• NexGen Energy reached a new 12-month high of C$13.06 following an upgrade from National Bankshares, raising its price target from C$12.00 to C$14.00 and maintaining an outperform rating.
• Various analysts have issued positive ratings and price targets for NexGen Energy, with an average consensus price target of C$13.34 indicating strong investor confidence.
• Company insiders, including Director Richard J. Patricio, recently sold shares, resulting in a 8.96% decrease in their ownership, although insiders still hold 7.96% of the company's stock.

NexGen Energy Ltd. (TSE:NXE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after National Bankshares raised their price target on the stock from C$12.00 to C$14.00. National Bankshares currently has an outperform rating on the stock. NexGen Energy traded as high as C$13.06 and last traded at C$12.17, with a volume of 1819000 shares. The stock had previously closed at C$12.57.

Other analysts also recently issued research reports about the stock. TD Securities increased their price target on shares of 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 price target on shares of NexGen Energy and gave the stock a "buy" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to MarketBeat.com, NexGen Energy currently has an average rating of "Buy" and a consensus price target of C$13.34.

Insiders Place Their Bets

In other news, Director Richard J. Patricio sold 125,000 shares of the company's 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 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 position. Company insiders own 7.96% of the company's stock.

NexGen Energy Price Performance

The stock has a market cap of C$6.87 billion, a PE ratio of -36.42 and a beta of 1.61. 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's fifty day moving average is C$10.14 and its 200-day moving average is C$8.60.

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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