NexGen Energy (TSE:NXE) Shares Up 2.3% - Should You Buy?

Key Points

• NexGen Energy's stock price increased by 2.3% to C$10.20 with a trading volume decline of 19% compared to its average.
• Analyst ratings are optimistic, with TD Securities raising their price target from C$11.00 to C$12.00 and Desjardins setting a target of C$13.50, along with a consensus target price of C$13.16.
• NexGen Energy focuses on uranium exploration in Canada, with key properties located in the Athabasca Basin, including the world-class Arrow Zone.

NexGen Energy Ltd. (TSE:NXE - Get Free Report)'s stock price was up 2.3% during mid-day trading on Friday . The company traded as high as C$10.27 and last traded at C$10.20. Approximately 1,424,595 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 1,762,052 shares. The stock had previously closed at C$9.97.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NXE. TD Securities upped 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 report on Friday, August 8th. Desjardins set a C$13.50 target price on shares of NexGen Energy and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$13.16.

NexGen Energy Price Performance

The firm has a market capitalization of C$6.04 billion, a price-to-earnings ratio of -32.06 and a beta of 1.50. 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 business has a 50-day moving average price of C$9.49 and a two-hundred day moving average price of C$8.21.

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.