NexGen Energy (TSE:NXE) Stock Price Up 4.1% – Here’s What Happened

NexGen Energy Ltd. (TSE:NXE) shares shot up 4.1% during mid-day trading on Wednesday . The stock traded as high as C$6.60 and last traded at C$6.59. 655,252 shares changed hands during trading, a decline of 63% from the average session volume of 1,771,114 shares. The stock had previously closed at C$6.33.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stifel Canada upgraded shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. TD Securities lowered their target price on shares of NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating for the company in a report on Thursday, March 6th. National Bankshares cut their price target on NexGen Energy from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Scotiabank lowered their price objective on NexGen Energy from C$12.00 to C$11.50 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Six investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$13.22.

NexGen Energy Stock Performance

The firm has a market capitalization of C$3.64 billion, a PE ratio of 24.66 and a beta of 1.76. 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 business’s 50 day simple moving average is C$7.24 and its two-hundred day simple moving average is C$9.20.

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.