NexGen Energy (TSE:NXE) Shares Down 6.6% – Here’s Why

NexGen Energy Ltd. (TSE:NXE)’s share price traded down 6.6% during mid-day trading on Wednesday . The company traded as low as C$12.78 and last traded at C$12.92. 2,027,553 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 2,218,787 shares. The stock had previously closed at C$13.83.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their target price on NexGen Energy from C$15.00 to C$20.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. UBS Group set a C$20.00 target price on NexGen Energy and gave the company a “buy” rating in a research report on Thursday, March 5th. Stifel Nicolaus lifted their target price on NexGen Energy from C$22.00 to C$30.00 and gave the company a “buy” rating in a research report on Friday, March 6th. National Bank Financial lifted their target price on NexGen Energy from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Finally, Scotiabank lifted their target price on NexGen Energy from C$16.00 to C$18.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$19.75.

NexGen Energy Stock Performance

The company has a market capitalization of C$8.55 billion, a P/E ratio of -19.00 and a beta of 1.20. The company has a debt-to-equity ratio of 42.09, a current ratio of 1.37 and a quick ratio of 8.20. The company has a fifty day moving average price of C$16.06 and a two-hundred day moving average price of C$15.42.

NexGen Energy (TSE:NXE) last released its quarterly earnings results on Tuesday, May 5th. The company reported C($0.24) earnings per share for the quarter. Equities analysts forecast that NexGen Energy Ltd. will post -0.07 earnings per share for the current fiscal year.

About NexGen Energy

NexGen Energy is a Canadian company focused on delivering clean energy fuel for the future. The Company’s flagship Rook I Project is being optimally developed into the largest low-cost producing uranium mine globally, incorporating the most elite environmental and social governance standards. The Rook I Project is supported by an N.I. 43-101 compliant Feasibility Study, which outlines the elite environmental performance and industry-leading economics. NexGen is led by a team of experienced uranium and mining industry professionals with expertise across the entire mining life cycle, including exploration, financing, project engineering and construction, operations and closure.