Scotiabank Cuts NexGen Energy (TSE:NXE) Price Target to C$12.50

NexGen Energy (TSE:NXE) had its price target reduced by Scotiabank from C$13.50 to C$12.50 in a report issued on Friday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

NXE has been the subject of several other reports. Raymond James decreased their price objective on NexGen Energy from C$13.50 to C$13.00 in a research report on Thursday, May 9th. Ventum Financial dropped their price target on NexGen Energy from C$12.50 to C$12.00 in a research note on Monday, July 8th. Cormark lowered their price objective on NexGen Energy from C$13.75 to C$13.00 in a research report on Friday. Ventum Cap Mkts upgraded NexGen Energy to a strong-buy rating in a research report on Monday, July 8th. Finally, Haywood Securities upgraded NexGen Energy to a strong-buy rating in a research report on Friday, May 17th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NexGen Energy currently has an average rating of Buy and an average target price of C$12.83.

NexGen Energy Stock Down 4.8 %

NXE opened at C$7.71 on Friday. NexGen Energy has a fifty-two week low of C$6.25 and a fifty-two week high of C$12.14. The company has a debt-to-equity ratio of 19.12, a current ratio of 1.96 and a quick ratio of 8.20. The firm’s fifty day moving average price is C$9.54 and its two-hundred day moving average price is C$10.13. The company has a market capitalization of C$4.32 billion, a P/E ratio of 70.09 and a beta of 1.82.

NexGen Energy (TSE:NXE) last released its quarterly earnings results on Wednesday, May 8th. The company reported C($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.02). On average, analysts anticipate that NexGen Energy will post -0.07 EPS for the current year.

Insiders Place Their Bets

In other NexGen Energy news, Director Bradley John Wall sold 188,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of C$7.42, for a total transaction of C$1,395,336.00. In other news, Director Bradley John Wall sold 188,000 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of C$7.42, for a total value of C$1,395,336.00. Also, Director Richard J. Patricio sold 175,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$9.67, for a total value of C$1,692,285.00. Company insiders own 8.23% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.