RBC Capital Mkts slashes price target on NexGen Energy Ltd. [NXE] – find out why.


NexGen Energy Ltd. [NYSE: NXE] loss -8.96% on the last trading session, reaching $3.86 price per share at the time. The company report on May 19, 2022 that NexGen Files Management Information Circular in Connection with Annual General and Special Meeting of Shareholders.

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NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE MKT: NXE) (ASX: NXG) is pleased to announce it has mailed the Notice of Meeting and Management Information Circular to shareholders of record as of May 9, 2022 in connection with the Annual General and Special Meeting to be held on Thursday, June 23, 2022, at 2:00 p.m. (Pacific Time).

NexGen Energy Ltd. represents 479.27 million in outstanding shares, while the company has a total market value of $2.40 billion with the latest information. NXE stock price has been found in the range of $3.79 to $4.30.

If compared to the average trading volume of 2.81M shares, NXE reached a trading volume of 6102720 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 4.44, with the Price to Cash per share for the same quarter was set at 0.31.

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 -24.61. With this latest performance, NXE shares dropped by -6.76% in over the last four-week period, additionally sinking by -8.75% over the last 6 months – not to mention a drop of -14.22% 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 35.52, with the RSI for the last a single of trading hit 30.20, and the three-weeks RSI is set at 38.52 for NexGen Energy Ltd. [NXE]. The present Moving Average for the last 50 days of trading for this stock 4.95, while it was recorded at 4.52 for the last single week of trading, and 4.99 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 12.40 and a Current Ratio set at 12.40.

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

There are presently around $592 million, or 30.44% 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 40,264,126, which is approximately 106.211% of the company’s market cap and around 15.98% of the total institutional ownership; L1 CAPITAL PTY LTD, holding 12,466,292 shares of the stock with an approximate value of $52.86 million in NXE stocks shares; and EXCHANGE TRADED CONCEPTS, LLC, currently with $39.57 million in NXE stock with ownership of nearly 36.067% 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 63 institutional holders increased their position in NexGen Energy Ltd. [NYSE:NXE] by around 38,421,231 shares. Additionally, 52 investors decreased positions by around 15,051,448 shares, while 25 investors held positions by with 86,213,089 shares. The mentioned changes placed institutional holdings at 139,685,768 shares, according to the latest SEC report filing. NXE stock had 17 new institutional investments in for a total of 2,605,084 shares, while 20 institutional investors sold positions of 3,652,320 shares during the same period.