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

Shares of NexGen Energy Ltd. (TSE:NXE) fell 6.6% on Wednesday . The stock traded as low as C$12.78 and last traded at C$12.92. 2,027,553 shares changed 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 Ratings Changes

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

NexGen Energy Price Performance

The firm has a market capitalization of C$9.11 billion, a P/E ratio of -20.24 and a beta of 1.20. The firm has a 50 day moving average price of C$15.96 and a 200-day moving average price of C$15.43. The company has a current ratio of 1.37, a quick ratio of 8.20 and a debt-to-equity ratio of 42.09.

NexGen Energy (TSE:NXE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C($0.24) earnings per share (EPS) for the quarter. On average, analysts expect that NexGen Energy Ltd. will post -0.07 earnings per share for the current 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.