RBC Capital Mkts lifts NexGen Energy Ltd. [NXE] price estimate. Who else is bullish?

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NexGen Energy Ltd. [NYSE: NXE] loss -9.14% on the last trading session, reaching $5.37 price per share at the time. The company report on March 1, 2022 that NexGen Announces Uplisting on the New York Stock Exchange.

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NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has been approved for uplisting on the New York Stock Exchange (“NYSE”) from its current listing on the NYSE American LLC (“NYSE American”). The Company’s common stock will begin trading under the symbol “NXE” at the opening of trading on March 4, 2022.

Leigh Curyer, Chief Executive Officer commented: “The uplisting on the NYSE is a major corporate milestone for NexGen in creating long-term value and an expansion of our global shareholder base. This listing is a demonstration of NexGen’s corporate governance standards, size, liquidity and exceptional value proposition offered to global investors allocating capital to elite ESG entities at a time the demand for reliable and sustainable clean air energy fuel is undergoing a generational transition.”.

NexGen Energy Ltd. represents 477.47 million in outstanding shares, while the company has a total market value of $3.26 billion with the latest information. NXE stock price has been found in the range of $5.325 to $5.94.

If compared to the average trading volume of 2.42M shares, NXE reached a trading volume of 3547666 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about NexGen Energy Ltd. [NXE]:

RBC Capital Mkts have made an estimate for NexGen Energy Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 11, 2022. The new note on the price target was released on June 23, 2021, representing the official price target for NexGen Energy Ltd. stock.

The Average True Range (ATR) for NexGen Energy Ltd. is set at 0.36 The Price to Book ratio for the last quarter was 5.90, with the Price to Cash per share for the same quarter was set at 0.35.

Trading performance analysis for NXE stock

NexGen Energy Ltd. [NXE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.17. With this latest performance, NXE shares dropped by -8.05% in over the last four-week period, additionally sinking by -15.30% over the last 6 months – not to mention a rise of 49.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NXE stock in for the last two-week period is set at 43.10, with the RSI for the last a single of trading hit 36.35, and the three-weeks RSI is set at 47.20 for NexGen Energy Ltd. [NXE]. The present Moving Average for the last 50 days of trading for this stock 5.36, while it was recorded at 5.81 for the last single week of trading, and 4.88 for the last 200 days.

NexGen Energy Ltd. [NXE]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -45.12, with Return on Assets sitting at -26.35.

NexGen Energy Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 26.00 and a Current Ratio set at 26.00.

An analysis of insider ownership at NexGen Energy Ltd. [NXE]

There are presently around $686 million, or 26.43% of NXE stock, in the hands of institutional investors. The top three institutional holders of NXE stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 19,525,708, which is approximately 26.64% of the company’s market cap and around 16.07% of the total institutional ownership; L1 CAPITAL PTY LTD, holding 10,254,848 shares of the stock with an approximate value of $60.61 million in NXE stocks shares; and SEGRA CAPITAL MANAGEMENT, LLC, currently with $41.45 million in NXE stock with ownership of nearly New of the company’s market capitalization.

Positions in NexGen Energy Ltd. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 65 institutional holders increased their position in NexGen Energy Ltd. [NYSE:NXE] by around 27,927,705 shares. Additionally, 52 investors decreased positions by around 8,013,874 shares, while 18 investors held positions by with 80,175,439 shares. The mentioned changes placed institutional holdings at 116,117,018 shares, according to the latest SEC report filing. NXE stock had 16 new institutional investments in for a total of 10,525,983 shares, while 13 institutional investors sold positions of 1,177,758 shares during the same period.