Scotiabank Has Lowered Expectations for NexGen Energy (TSE:NXE) Stock Price

NexGen Energy (TSE:NXE) had its price target dropped by Scotiabank from C$12.00 to C$11.50 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 62.66% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. National Bankshares lowered their price target on NexGen Energy from C$13.50 to C$12.50 and set an “outperform” rating for the company in a research report on Friday, March 7th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, TD Securities cut 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 report on Thursday, March 6th. Six investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$13.22.

NexGen Energy Stock Down 0.4 %

Shares of TSE NXE opened at C$7.07 on Tuesday. The stock has a market capitalization of C$4.00 billion, a PE ratio of 27.07 and a beta of 1.76. The company has a quick ratio of 8.20, a current ratio of 1.16 and a debt-to-equity ratio of 35.49. The firm has a fifty day moving average of C$8.33 and a 200-day moving average of C$9.39. NexGen Energy has a 52-week low of C$6.44 and a 52-week high of C$12.51.

About NexGen Energy

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.