NexGen Energy (TSE:NXE) Shares Down 3.2% - Here's What Happened

Key Points

• Shares of NexGen Energy Ltd. fell 3.2% to C$10.49, with trading volume increasing by 4% compared to the average.
• Brokerages such as Desjardins and TD Securities have set new price targets for NexGen Energy, with a consensus average target of C$13.16.
• NexGen Energy has a market cap of C$5.99 billion and a current ratio of 1.16, indicating its short-term financial health.

NexGen Energy Ltd. (TSE:NXE - Get Free Report) fell 3.2% during mid-day trading on Thursday . The stock traded as low as C$10.34 and last traded at C$10.49. 1,837,195 shares traded hands during trading, an increase of 4% from the average session volume of 1,771,431 shares. The stock had previously closed at C$10.84.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NXE. TD Securities boosted their price objective on NexGen Energy from C$11.00 to C$12.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Desjardins set a C$13.50 price objective on NexGen Energy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$13.16.

NexGen Energy Stock Performance

The stock has a market cap of C$6.15 billion, a P/E ratio of -32.64 and a beta of 1.61. The company has a fifty day moving average of C$9.60 and a 200 day moving average of C$8.27. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.16 and a quick ratio of 8.20.

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.