Scotiabank Has Lowered Expectations for NexGen Energy (TSE:NXE) Stock Price

NexGen Energy (TSE:NXE) had its price objective decreased by stock analysts at Scotiabank from C$12.00 to C$11.50 in a research note 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 62.66% from the stock’s previous close.

NXE has been the topic of several other reports. TD Securities lowered their price target on shares of NexGen Energy from C$13.00 to C$12.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, National Bankshares reduced their price objective on NexGen Energy from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Six analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, NexGen Energy presently has a consensus rating of “Buy” and an average price target of C$13.22.

NexGen Energy Price Performance

Shares of TSE NXE opened at C$7.07 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 8.20 and a debt-to-equity ratio of 35.49. The company’s 50-day moving average price is C$8.33 and its 200 day moving average price is C$9.39. NexGen Energy has a 52 week low of C$6.44 and a 52 week high of C$12.51. The stock has a market cap of C$4.00 billion, a price-to-earnings ratio of 27.07 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.