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TD Securities Forecasts Strong Price Appreciation for NexGen Energy (TSE:NXE) Stock

NexGen Energy logo with Energy background

Key Points

  • TD Securities has raised its price target for NexGen Energy (TSE:NXE) from C$12.00 to C$15.00, indicating a potential upside of 29.87% from the current stock price.
  • Other brokerages such as Canaccord Genuity and Scotiabank have also increased their price objectives for NexGen Energy, with the consensus rating remaining a "Buy".
  • NexGen Energy's stock recently traded at C$11.55, with significant insider activity where Director Richard J. Patricio sold 125,000 shares, reducing his total holding by 8.96%.
  • Interested in NexGen Energy? Here are five stocks we like better.

NexGen Energy (TSE:NXE - Get Free Report) had its price objective upped by investment analysts at TD Securities from C$12.00 to C$15.00 in a report released on Tuesday,BayStreet.CA reports. TD Securities' target price points to a potential upside of 29.87% from the stock's current price.

Several other brokerages also recently commented on NXE. Canaccord Genuity Group increased their price objective on shares of NexGen Energy from C$16.00 to C$18.50 in a research note on Friday. Scotiabank increased their price objective on shares of NexGen Energy from C$12.00 to C$14.00 in a research note on Tuesday, October 14th. Stifel Nicolaus increased their price objective on shares of NexGen Energy from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Friday, September 26th. BMO Capital Markets increased their price objective on shares of NexGen Energy from C$14.00 to C$16.00 in a research note on Friday. Finally, National Bankshares increased their price objective 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, September 24th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, NexGen Energy presently has a consensus rating of "Buy" and an average price target of C$15.16.

Check Out Our Latest Analysis on NXE

NexGen Energy Price Performance

Shares of TSE NXE traded down C$0.66 during trading hours on Tuesday, hitting C$11.55. 2,060,459 shares of the stock were exchanged, compared to its average volume of 1,969,719. 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 company has a market cap of C$7.17 billion, a PE ratio of -35.00 and a beta of 1.57. The company's fifty day simple moving average is C$11.25 and its two-hundred day simple moving average is C$9.37. NexGen Energy has a 1-year low of C$5.59 and a 1-year high of C$13.75.

Insider Activity

In other news, Director Richard J. Patricio sold 125,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 1,269,900 shares of the company's stock, valued at approximately C$11,937,060. This trade represents a 8.96% decrease in their ownership of the stock. Insiders own 7.96% of the company's stock.

About NexGen Energy

(Get Free Report)

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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Analyst Recommendations for NexGen Energy (TSE:NXE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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