NexGen Energy (TSE:NXE) Stock Price Down 6.6% – What’s Next?

NexGen Energy Ltd. (TSE:NXE) dropped 6.6% on Monday . The stock traded as low as C$6.11 and last traded at C$6.13. 465,478 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,761,379 shares. The stock had previously closed at C$6.56.

Wall Street Analyst Weigh In

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

NexGen Energy Price Performance

The company has a 50-day moving average of C$7.08 and a two-hundred day moving average of C$9.16. 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 stock has a market capitalization of C$3.46 billion, a PE ratio of 23.43 and a beta of 1.76.

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.