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

NexGen Energy Ltd. (TSE:NXE) shares were down 6.6% during trading on Monday . The stock traded as low as C$6.11 and last traded at C$6.13. Approximately 465,478 shares were traded during 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

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

NexGen Energy Stock Performance

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

About NexGen Energy

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.