Cormark Forecasts Strong Price Appreciation for NexGen Energy (TSE:NXE) Stock

NexGen Energy (TSE:NXE) had its price target lifted by Cormark from C$13.00 to C$13.50 in a research note published on Wednesday morning,BayStreet.CA reports.

A number of other research analysts have also commented on NXE. Haywood Securities upped their price objective on NexGen Energy from C$12.50 to C$13.75 in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of NexGen Energy from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Scotiabank boosted their price objective on shares of NexGen Energy from C$12.75 to C$14.00 in a report on Wednesday. Raymond James increased their target price on shares of NexGen Energy from C$12.00 to C$13.50 in a research report on Wednesday. Finally, National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a research report on Tuesday, September 3rd. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$14.42.

NexGen Energy Stock Performance

Shares of NXE stock opened at C$12.42 on Wednesday. NexGen Energy has a 52 week low of C$7.04 and a 52 week high of C$12.51. The company has a market capitalization of C$7.01 billion, a price-to-earnings ratio of 73.06 and a beta of 1.76. The company has a 50-day simple moving average of C$9.77 and a 200 day simple moving average of C$9.49. The company has a debt-to-equity ratio of 39.09, a quick ratio of 8.20 and a current ratio of 1.20.

NexGen Energy (TSE:NXE) last issued its quarterly earnings data 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 company posted ($0.03) earnings per share. On average, sell-side analysts predict that NexGen Energy will post -0.07 earnings per share for the current year.

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.