NexGen Energy (TSE:NXE) Price Target Lowered to C$11.50 at Scotiabank

NexGen Energy (TSE:NXE) had its target price lowered by investment analysts at Scotiabank from C$12.00 to C$11.50 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 62.20% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. National Bankshares reduced their price target on shares of 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. TD Securities lowered their price target on NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Six investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$13.22.

NexGen Energy Price Performance

Shares of NXE stock traded down C$0.30 during mid-day trading on Tuesday, hitting C$7.09. 859,396 shares of the stock were exchanged, compared to its average volume of 1,786,052. NexGen Energy has a 52-week low of C$6.44 and a 52-week high of C$12.51. 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 company has a market cap of C$4.01 billion, a PE ratio of 27.15 and a beta of 1.76. The firm has a fifty day moving average of C$8.44 and a 200 day moving average of C$9.41.

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.