NexGen Energy (TSE:NXE) Trading Down 5.7% – Here’s Why

NexGen Energy Ltd. (TSE:NXE)’s share price dropped 5.7% during trading on Friday . The stock traded as low as C$15.44 and last traded at C$15.49. Approximately 2,154,597 shares traded hands during trading, a decline of 7% from the average daily volume of 2,308,481 shares. The stock had previously closed at C$16.43.

Analyst Upgrades and Downgrades

NXE has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price target on shares of NexGen Energy from C$15.00 to C$20.00 and gave the company an “outperform” rating in a report on Friday, March 6th. TD Securities boosted their price target on shares of NexGen Energy from C$15.00 to C$20.00 in a report on Thursday, January 22nd. Stifel Nicolaus boosted their price target on shares of NexGen Energy from C$22.00 to C$30.00 and gave the company a “buy” rating in a report on Friday, March 6th. National Bank Financial boosted their price target on shares of NexGen Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Raymond James Financial boosted their price target on shares of NexGen Energy from C$18.00 to C$20.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$19.18.

NexGen Energy Price Performance

The stock has a market capitalization of C$10.25 billion, a P/E ratio of -22.78 and a beta of 1.15. The stock’s fifty day moving average is C$16.47 and its 200-day moving average is C$15.03. The company has a debt-to-equity ratio of 42.09, a current ratio of 1.37 and a quick ratio of 8.20.

NexGen Energy (TSE:NXE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C($0.24) earnings per share (EPS) for the quarter. On average, equities analysts anticipate that NexGen Energy Ltd. will post -0.07 earnings per share for the current year.

About NexGen Energy

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.