Scotiabank Lowers NexGen Energy (TSE:NXE) Price Target to C$12.00

NexGen Energy (TSE:NXE) had its price target dropped by analysts at Scotiabank from C$14.50 to C$12.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 69.73% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada raised their target price on NexGen Energy from C$10.00 to C$15.00 in a research note on Thursday, November 21st. Raymond James boosted their target price on shares of NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday, November 20th. Cormark boosted their price objective on shares of NexGen Energy from C$13.00 to C$13.50 in a research report on Wednesday, November 20th. Haywood Securities raised their price target on NexGen Energy from C$12.50 to C$13.75 in a research note on Wednesday, November 20th. Finally, TD Securities reduced 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. Six equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$13.34.

NexGen Energy Stock Performance

Shares of TSE NXE traded down C$0.05 during midday trading on Thursday, reaching C$7.07. 1,281,897 shares of the stock were exchanged, compared to its average volume of 1,739,432. The firm has a 50-day simple moving average of C$9.23 and a two-hundred day simple moving average of C$9.52. The firm has a market cap of C$4.00 billion, a price-to-earnings ratio of 27.07 and a beta of 1.76. NexGen Energy has a twelve month low of C$6.66 and a twelve month high of C$12.51. The company has a quick ratio of 8.20, a current ratio of 1.16 and a debt-to-equity ratio of 35.49.

Insider Activity

In related news, Director Leigh Robert Curyer sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$11.55, for a total transaction of C$14,442,875.00. Corporate insiders own 7.96% of the company’s stock.

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.