NexGen Energy (TSE:NXE) Given New C$13.50 Price Target at Raymond James

NexGen Energy (TSE:NXE) had its price objective increased by equities research analysts at Raymond James from C$12.00 to C$13.50 in a report released on Wednesday,BayStreet.CA reports. Raymond James’ price target would indicate a potential upside of 15.29% from the stock’s current price. Raymond James also issued estimates for NexGen Energy’s FY2024 earnings at ($0.07) EPS.

NXE has been the subject of several other research reports. Royal Bank of Canada dropped their price objective on shares of NexGen Energy from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. National Bank Financial raised shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Scotiabank upped their price target on shares of NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday. National Bankshares upped their price target on shares of NexGen Energy from C$11.00 to C$13.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Cormark cut their price target on shares of NexGen Energy from C$13.75 to C$13.00 in a report on Friday, August 2nd. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$13.86.

NexGen Energy Stock Performance

Shares of NXE traded down C$0.12 during midday trading on Wednesday, reaching C$11.71. The stock had a trading volume of 2,270,944 shares, compared to its average volume of 1,963,025. The firm has a 50 day simple moving average of C$9.48 and a 200-day simple moving average of C$9.45. NexGen Energy has a one year low of C$7.04 and a one year high of C$12.14. The firm has a market cap of C$6.61 billion, a PE ratio of 68.88 and a beta of 1.76. The company has a current ratio of 1.20, a quick ratio of 8.20 and a debt-to-equity ratio of 39.09.

NexGen Energy (TSE:NXE) last posted its 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 in the prior year, the business posted ($0.03) EPS. As a group, sell-side analysts anticipate that NexGen Energy will post -0.07 EPS for the current year.

About NexGen Energy

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.