NexGen Energy (TSE:NXE) Trading Down 4% – Here’s Why

Shares of NexGen Energy Ltd. (TSE:NXE) dropped 4% during trading on Friday . The stock traded as low as C$8.76 and last traded at C$8.83. Approximately 142,385 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,463,503 shares. The stock had previously closed at C$9.20.

Analysts Set New Price Targets

Several brokerages have issued reports on NXE. Scotiabank boosted their price target on shares of NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday, November 20th. Raymond James upped their target price on shares of NexGen Energy from C$12.00 to C$13.50 in a research note on Wednesday, November 20th. National Bankshares raised 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 research note on Thursday, October 24th. Haywood Securities upped their price objective on NexGen Energy from C$12.50 to C$13.75 in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada increased their target price on NexGen Energy from C$10.00 to C$15.00 in a report on Thursday, November 21st. Six investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$13.59.

NexGen Energy Price Performance

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 stock has a market capitalization of C$4.87 billion, a price-to-earnings ratio of 32.97 and a beta of 1.76. The stock has a fifty day moving average of C$9.93 and a two-hundred day moving average of C$9.55.

Insider Activity at NexGen Energy

In other news, Director Leigh Robert Curyer acquired 1,500,000 shares of NexGen Energy stock in a transaction on Friday, December 20th. The shares were purchased at an average price of C$10.05 per share, with a total value of C$15,075,000.00. 7.96% of the stock is currently owned by company insiders.

NexGen Energy Company Profile

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.