NexGen Energy (TSE:NXE) Sets New 52-Week Low Following Analyst Downgrade

Shares of NexGen Energy Ltd. (TSE:NXE) reached a new 52-week low during mid-day trading on Monday after National Bankshares lowered their price target on the stock from C$13.50 to C$12.50. National Bankshares currently has an outperform rating on the stock. NexGen Energy traded as low as C$6.63 and last traded at C$6.65, with a volume of 302972 shares trading hands. The stock had previously closed at C$6.98.

Other research analysts have also issued reports about the stock. Cormark raised their target price on shares of NexGen Energy from C$13.00 to C$13.50 in a research note on Wednesday, November 20th. Haywood Securities boosted their target price on NexGen Energy from C$12.50 to C$13.75 in a research report on Wednesday, November 20th. Raymond James raised their price target on NexGen Energy from C$12.00 to C$13.50 in a report on Wednesday, November 20th. Royal Bank of Canada upped their price objective on NexGen Energy from C$10.00 to C$15.00 in a report on Thursday, November 21st. Finally, Scotiabank cut their price objective on NexGen Energy from C$14.50 to C$12.00 and set an “outperform” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$13.28.

Insider Transactions at NexGen Energy

In related news, Director Leigh Robert Curyer sold 1,250,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$11.55, for a total transaction of C$14,442,875.00. Corporate insiders own 7.96% of the company’s stock.

NexGen Energy Stock Down 5.2 %

The stock’s 50-day moving average is C$9.11 and its 200-day moving average is C$9.51. 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 stock has a market cap of C$3.75 billion, a P/E ratio of 25.35 and a beta of 1.76.

NexGen Energy Company Profile

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.