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

NexGen Energy Ltd. [NYSE: NXE] traded at a high on 10/18/22, posting a 1.02 gain after which it closed the day’ session at $3.96. The company report on July 28, 2022 that NexGen 2021 Drilling Assay Results Confirm Uranium Mineralization Below Arrow At Depth and Commencement of 2022 Regional Exploration Program.

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NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce drill assays from 2021 confirm discovery of a uranium mineralized zone below the known Arrow Deposit and at Camp East:.

Below Arrow – multiple intersections of uranium mineralization were made significantly below Arrow, including 0.10% U3O8 over 7.0 m in AR-21-268 from 1128 m to 1135 m down hole;.

The results of the trading session contributed to over 3870551 shares changing hands. Over the past one week, the price volatility of NexGen Energy Ltd. stands at 7.25% while the volatility over the past one month is 6.25%.

The market cap for NXE stock reached $2.73 billion, with 479.28 million shares outstanding and 399.88 million shares in the current float. Compared to the average trading volume of 2.49M shares, NXE reached a trading volume of 3870551 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 0.25 The Price to Book ratio for the last quarter was 4.40, with the Price to Cash per share for the same quarter was set at 0.24.

How has NXE stock performed recently?

NexGen Energy Ltd. [NXE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.09. With this latest performance, NXE shares dropped by -5.26% in over the last four-week period, additionally sinking by -30.40% over the last 6 months – not to mention a drop of -36.74% 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 51.18, with the RSI for the last a single of trading hit 54.03, and the three-weeks RSI is set at 50.06 for NexGen Energy Ltd. [NXE]. The present Moving Average for the last 50 days of trading for this stock 4.04, while it was recorded at 3.80 for the last single week of trading, and 4.48 for the last 200 days.

NexGen Energy Ltd. [NXE]: Deeper insight into the fundamentals

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 12.70 and a Current Ratio set at 12.70.

Insider trade positions for NexGen Energy Ltd. [NXE]

There are presently around $485 million, or 28.97% 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 20,370,932, which is approximately -49.407% of the company’s market cap and around 15.92% of the total institutional ownership; L1 CAPITAL PTY LTD, holding 11,900,412 shares of the stock with an approximate value of $47.13 million in NXE stocks shares; and ALPS ADVISORS INC, currently with $35.21 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 November and at the time of the November reporting period, where 55 institutional holders increased their position in NexGen Energy Ltd. [NYSE:NXE] by around 23,576,845 shares. Additionally, 53 investors decreased positions by around 31,341,245 shares, while 27 investors held positions by with 67,553,466 shares. The mentioned changes placed institutional holdings at 122,471,556 shares, according to the latest SEC report filing. NXE stock had 17 new institutional investments in for a total of 14,789,371 shares, while 18 institutional investors sold positions of 4,273,310 shares during the same period.


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