NexGen Energy (TSE:NXE) Hits New 12-Month Low – Here’s Why

NexGen Energy Ltd. (TSE:NXE) shares reached a new 52-week low during trading on Monday . The company traded as low as C$5.59 and last traded at C$5.76, with a volume of 385451 shares trading hands. The stock had previously closed at C$5.92.

Wall Street Analysts Forecast Growth

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

NexGen Energy Price Performance

The firm has a market cap of C$3.29 billion, a PE ratio of 22.28 and a beta of 1.76. 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 firm has a 50-day simple moving average of C$7.81 and a 200 day simple moving average of C$9.34.

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.