NexGen Energy (TSE:NXE) Shares Down 6.8%

NexGen Energy Ltd. (TSE:NXE) shares traded down 6.8% during mid-day trading on Wednesday . The stock traded as low as C$10.98 and last traded at C$11.19. 968,522 shares were traded during mid-day trading, a decline of 56% from the average session volume of 2,203,124 shares. The stock had previously closed at C$12.00.

Analyst Upgrades and Downgrades

NXE has been the topic of a number of recent analyst reports. Raymond James lowered their price target on shares of NexGen Energy from C$13.50 to C$13.00 in a report on Thursday. Scotiabank set a C$13.50 price target on NexGen Energy and gave the company an “outperform” rating in a research note on Monday, April 1st. Eight Capital raised their target price on NexGen Energy from C$13.00 to C$21.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. Finally, Cormark raised their price target on shares of NexGen Energy from C$11.50 to C$13.75 in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NexGen Energy currently has an average rating of “Buy” and an average target price of C$13.28.

NexGen Energy Stock Up 4.7 %

The company has a debt-to-equity ratio of 19.56, a quick ratio of 8.20 and a current ratio of 11.00. The business’s 50 day moving average is C$10.70 and its 200-day moving average is C$9.78. The stock has a market cap of C$5.94 billion, a price-to-earnings ratio of 68.81 and a beta of 1.82.

NexGen Energy (TSE:NXE) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.06). On average, sell-side analysts predict that NexGen Energy Ltd. will post -0.07 EPS for the current fiscal year.

About NexGen Energy

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.