Raymond James Increases Earnings Estimates for NexGen Energy

NexGen Energy Ltd. (TSE:NXE) – Stock analysts at Raymond James upped their FY2024 earnings estimates for shares of NexGen Energy in a research report issued to clients and investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now forecasts that the company will earn ($0.07) per share for the year, up from their previous estimate of ($0.13). Raymond James has a “Outperform” rating and a $12.00 price target on the stock. The consensus estimate for NexGen Energy’s current full-year earnings is ($0.07) per share.

Several other research firms also recently weighed in on NXE. Scotiabank dropped their target price on shares of NexGen Energy from C$12.50 to C$12.00 in a report on Monday, August 19th. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Ventum Financial increased their price objective on NexGen Energy from C$12.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. Cormark dropped their target price on shares of NexGen Energy from C$13.75 to C$13.00 in a research report on Friday, August 2nd. Finally, National Bankshares boosted their price objective on NexGen Energy from C$11.00 to C$13.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$13.38.

NexGen Energy Price Performance

The company has a 50 day simple moving average of C$9.48 and a two-hundred day simple moving average of C$9.45. NexGen Energy has a 12 month low of C$7.04 and a 12 month high of C$12.14. The company has a current ratio of 1.20, a quick ratio of 8.20 and a debt-to-equity ratio of 39.09. The firm has a market cap of C$6.68 billion, a price-to-earnings ratio of 69.76 and a beta of 1.76.

NexGen Energy (TSE:NXE) last announced its quarterly earnings results on Thursday, November 7th. The company reported C($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.01). During the same period last year, the business posted ($0.03) EPS.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.