NexGen Energy (TSE:NXE) Shares Down 5.7% – Should You Sell?

Shares of NexGen Energy Ltd. (TSE:NXE) dropped 5.7% during mid-day trading on Friday . The stock traded as low as C$15.44 and last traded at C$15.49. Approximately 2,154,597 shares traded hands during trading, a decline of 7% from the average daily volume of 2,308,481 shares. The stock had previously closed at C$16.43.

Analysts Set New Price Targets

Several research firms have recently weighed in on NXE. UBS Group set a C$20.00 price objective on NexGen Energy and gave the stock a “buy” rating in a research note on Thursday, March 5th. Raymond James Financial raised their price objective on NexGen Energy from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Royal Bank Of Canada raised their price objective on NexGen Energy from C$15.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Stifel Nicolaus raised their price objective on NexGen Energy from C$22.00 to C$30.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, TD Securities raised their price objective on NexGen Energy from C$15.00 to C$20.00 in a research note on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, NexGen Energy has a consensus rating of “Buy” and a consensus target price of C$19.18.

NexGen Energy Trading Down 5.7%

The firm has a market capitalization of C$10.25 billion, a P/E ratio of -22.78 and a beta of 1.15. The company has a debt-to-equity ratio of 42.09, a quick ratio of 8.20 and a current ratio of 1.37. The firm has a 50 day moving average price of C$16.47 and a two-hundred day moving average price of C$15.03.

NexGen Energy (TSE:NXE) last issued its earnings results on Tuesday, May 5th. The company reported C($0.24) EPS for the quarter. On average, equities research analysts expect that NexGen Energy Ltd. will post -0.07 EPS for the current fiscal 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.