NexGen Energy (TSE:NXE) Trading Up 2.3% - Here's What Happened

NexGen Energy Ltd. (TSE:NXE - Get Free Report)'s share price rose 2.3% during trading on Wednesday . The stock traded as high as C$9.54 and last traded at C$9.50. Approximately 2,151,108 shares were traded during mid-day trading, an increase of 25% from the average daily volume of 1,720,735 shares. The stock had previously closed at C$9.29.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NXE. Scotiabank reduced their target price on shares of NexGen Energy from C$12.00 to C$11.50 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Desjardins set a C$13.50 price objective on shares of NexGen Energy and gave the company a "buy" rating in a research note on Tuesday, June 10th. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$13.25.

NexGen Energy Trading Down 0.1%

The business's 50 day moving average is C$8.83 and its two-hundred day moving average is C$8.25. The firm has a market capitalization of C$5.40 billion, a P/E ratio of 36.53 and a beta of 1.76. The company has a quick ratio of 8.20, a current ratio of 1.16 and a debt-to-equity ratio of 35.49.

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.