NexGen Energy (TSE:NXE) Sets New 52-Week Low – What’s Next?

NexGen Energy Ltd. (TSE:NXE) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$6.17 and last traded at C$6.32, with a volume of 414637 shares traded. The stock had previously closed at C$6.49.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NXE shares. Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. TD Securities cut their price objective on 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. Scotiabank decreased their target price on shares of 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. Finally, National Bankshares dropped their price target on shares of NexGen Energy from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NexGen Energy presently has a consensus rating of “Buy” and an average target price of C$13.22.

NexGen Energy Price Performance

The company’s 50-day moving average price is C$8.07 and its two-hundred day moving average price is C$9.37. 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 company has a market capitalization of C$3.71 billion, a P/E ratio of 25.08 and a beta of 1.76.

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.