In a report released yesterday, Andrew Wong CFA from RBC Capital reiterated a Buy rating on NexGen Energy (NXE – Research Report), with a price target of C$11.00. The company’s shares closed last Friday at $7.20.
According to TipRanks, Wong CFA is a 4-star analyst with an average return of 8.6% and a 48.78% success rate. Wong CFA covers the Basic Materials sector, focusing on stocks such as Cf Industries Holdings, Lsb Industries, and Mosaic Co.
Currently, the analyst consensus on NexGen Energy is a Strong Buy with an average price target of $9.41, implying a 30.69% upside from current levels. In a report released on May 10, Scotiabank also maintained a Buy rating on the stock with a C$13.50 price target.
The company has a one-year high of $8.88 and a one-year low of $3.61. Currently, NexGen Energy has an average volume of 6.32M.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NXE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
NexGen Energy (NXE) Company Description:
NexGen Energy Ltd. engages in the acquisition, exploration, and development of uranium properties. Its project portfolio includes Arrow, South Arrow, Harpoon, Rook I, and IsoEnergy. The company was founded by Leigh B. Curyer on March 8, 2011 and is headquartered in Vancouver, Canada.
