Stifel Nicolaus Issues Positive Forecast for NexGen Energy (TSE:NXE) Stock Price

Key Points

• Stifel Nicolaus has raised its price target for NexGen Energy (TSE:NXE) from C$16.00 to C$17.00, indicating a potential upside of 34.18% from the previous close.
• The stock has received multiple ratings upgrades from analysts, with a consensus rating of "Buy" and an average target price of C$13.75.
• NexGen Energy's shares recently traded up by 1.4%, reaching C$12.67, while an insider sold 125,000 shares in August, reducing their position by 8.96%.

NexGen Energy (TSE:NXE - Get Free Report) had its price target upped by research analysts at Stifel Nicolaus from C$16.00 to C$17.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price target points to a potential upside of 34.18% from the company's previous close.

Several other equities research analysts have also recently weighed in on NXE. National Bankshares increased their target price on shares of NexGen Energy from C$12.00 to C$14.00 and gave the company an "outperform" rating in a research note on Wednesday. TD Securities lifted their target price on shares of NexGen Energy from C$11.00 to C$12.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Desjardins set a C$13.50 price target on shares of NexGen Energy and gave the company a "buy" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$13.75.

NexGen Energy Stock Up 1.4%

Shares of TSE NXE traded up C$0.18 during mid-day trading on Friday, reaching C$12.67. The company had a trading volume of 1,966,886 shares, compared to its average volume of 1,820,088. The company has a debt-to-equity ratio of 35.49, a quick ratio of 8.20 and a current ratio of 1.16. The stock has a market capitalization of C$7.24 billion, a PE ratio of -38.39 and a beta of 1.61. NexGen Energy has a twelve month low of C$5.59 and a twelve month high of C$13.06. The stock's 50 day moving average is C$10.25 and its 200-day moving average is C$8.67.

Insider Buying and Selling

In other NexGen Energy news, Director Richard J. Patricio sold 125,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 1,269,900 shares in the company, 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.

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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