NexGen Energy (TSE:NXE) Sets New 1-Year High – Here’s Why

NexGen Energy Ltd. (TSE:NXE)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$17.04 and last traded at C$17.03, with a volume of 1794452 shares changing hands. The stock had previously closed at C$16.59.

Analyst Ratings Changes

Several research firms recently commented on NXE. Stifel Nicolaus increased their price objective on NexGen Energy from C$17.00 to C$20.00 in a research note on Tuesday, October 21st. Canaccord Genuity Group upped their target price on shares of NexGen Energy from C$16.00 to C$18.50 in a report on Friday, October 17th. Haywood Securities raised their price target on shares of NexGen Energy from C$12.50 to C$15.00 in a research note on Monday, November 10th. Scotiabank boosted their price target on shares of NexGen Energy from C$12.00 to C$14.00 in a research report on Tuesday, October 14th. Finally, BMO Capital Markets raised their target price on shares of NexGen Energy from C$14.00 to C$16.00 in a research note on Friday, October 17th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$16.25.

NexGen Energy Price Performance

The stock has a 50-day moving average price of C$13.09 and a 200 day moving average price of C$11.69. The company has a debt-to-equity ratio of 35.49, a current ratio of 1.16 and a quick ratio of 8.20. The firm has a market cap of C$11.17 billion, a price-to-earnings ratio of -28.92 and a beta of 1.41.

NexGen Energy (TSE:NXE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C($0.23) EPS for the quarter. As a group, equities research analysts forecast that NexGen Energy Ltd. will post -0.07 earnings per share for the current fiscal 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.