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

Key Points

• Stifel Nicolaus raised its price objective on NexGen to C$30.00 (from C$22.00) and kept a Buy rating, implying roughly an 81% upside from the current share price.
• Several other brokers (RBC, Scotiabank, Raymond James, TD, Haywood) also lifted targets, leaving a consensus Buy rating with an average price target of C$19.09.
• The stock trades around C$16.56 with a market cap of C$10.84B and the company remains unprofitable (recent quarterly EPS negative and FY EPS expected about -0.07), highlighting continued operational and valuation risk despite analyst optimism.

NexGen Energy (TSE:NXE - Get Free Report) had its price objective upped by analysts at Stifel Nicolaus from C$22.00 to C$30.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 81.16% from the stock's current price.

A number of other research firms also recently issued reports on NXE. Royal Bank Of Canada boosted their price target on NexGen Energy from C$15.00 to C$20.00 and gave the company an "outperform" rating in a research note on Friday. Haywood Securities boosted their price objective on shares of NexGen Energy from C$12.50 to C$15.00 in a research report on Monday, November 10th. Scotiabank raised their target price on NexGen Energy from C$16.00 to C$18.00 and gave the stock an "outperform" rating in a report on Friday. Raymond James Financial boosted their price target on NexGen Energy from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Friday. Finally, TD Securities raised their price objective on NexGen Energy from C$15.00 to C$20.00 in a research note on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of C$19.09.

NexGen Energy Stock Performance

TSE NXE traded down C$0.41 during trading hours on Friday, hitting C$16.56. The company's stock had a trading volume of 1,370,312 shares, compared to its average volume of 2,573,986. The company's 50 day simple moving average is C$16.05 and its two-hundred day simple moving average is C$13.30. The company has a debt-to-equity ratio of 32.03, a current ratio of 1.82 and a quick ratio of 8.20. The company has a market cap of C$10.84 billion, a P/E ratio of -28.07 and a beta of 1.11. NexGen Energy has a 12 month low of C$5.59 and a 12 month high of C$18.91.

NexGen Energy (TSE:NXE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C($0.06) earnings per share for the quarter. As a group, sell-side analysts expect that NexGen Energy will post -0.07 EPS for the current fiscal year.

NexGen Energy Company Profile

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company's flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The Rook I Project is supported by an N.I. 43-101 compliant Feasibility Study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure.

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