NexGen Energy (TSE:NXE) Shares Up 1.7% on Analyst Upgrade

Key Points

• NexGen Energy Ltd. shares increased by 1.7% after Stifel Nicolaus upgraded their price target from C$16.00 to C$17.00, maintaining a buy rating on the stock.
• Several analysts have raised their price objectives for the stock, with an average rating of "Buy" and an average price target of C$13.75.
• Insider trading was noted as Director Richard J. Patricio sold 125,000 shares at an average price of C$9.40, reducing his position by 8.96%.

NexGen Energy Ltd. (TSE:NXE - Get Free Report) shares shot up 1.7% on Friday after Stifel Nicolaus raised their price target on the stock from C$16.00 to C$17.00. Stifel Nicolaus currently has a buy rating on the stock. NexGen Energy traded as high as C$12.97 and last traded at C$12.70. 2,529,284 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,823,289 shares. The stock had previously closed at C$12.49.

A number of other equities research analysts have also commented on NXE. TD Securities raised their price objective 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. National Bankshares raised their price objective on shares of NexGen Energy from C$12.00 to C$14.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Desjardins set a C$13.50 price objective 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 four have given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$13.75.

Insider Transactions at NexGen Energy

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

NexGen Energy Stock Up 1.7%

The company has a current ratio of 1.16, a quick ratio of 8.20 and a debt-to-equity ratio of 35.49. The firm's 50 day simple moving average is C$10.31 and its 200-day simple moving average is C$8.71. The stock has a market capitalization of C$7.25 billion, a price-to-earnings ratio of -38.48 and a beta of 1.61.

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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