NexGen Energy Ltd [NXE] is 38.60% higher this YTD. Is it still time to buy?

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NexGen Energy Ltd [NYSE: NXE] gained 2.50% on the last trading session, reaching $6.14 price per share at the time. The company report on November 9, 2023 at 6:30 AM that NexGen Receives Provincial Environmental Assessment Approval for the Rook I Project.

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce that it has received Ministerial approval under The Environmental Assessment Act of Saskatchewan to proceed with the development of its 100%-owned Rook I Project (the “Project”).

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NexGen is the first company in more than 20 years to receive full Provincial Environmental Assessment approval for a uranium project in Saskatchewan.

NexGen Energy Ltd represents 482.53 million in outstanding shares, while the company has a total market value of $3.02 billion with the latest information. NXE stock price has been found in the range of $6.01 to $6.25.

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If compared to the average trading volume of 4.79M shares, NXE reached a trading volume of 7952892 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NXE shares is $7.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NXE stock is a recommendation set at 1.17. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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.

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The Average True Range (ATR) for NexGen Energy Ltd is set at 0.28 The Price to Book ratio for the last quarter was 6.84, with the Price to Cash per share for the same quarter was set at 0.57.

Trading performance analysis for NXE stock

NexGen Energy Ltd [NXE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.04. With this latest performance, NXE shares gained by 10.04% in over the last four-week period, additionally plugging by 51.60% over the last 6 months – not to mention a rise of 41.47% 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 57.01, with the RSI for the last a single of trading hit 58.49, and the three-weeks RSI is set at 56.34 for NexGen Energy Ltd [NXE]. The present Moving Average for the last 50 days of trading for this stock 5.85, while it was recorded at 5.97 for the last single week of trading, and 4.71 for the last 200 days.

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

Return on Total Capital for NXE is now -11.13, given the latest momentum, and Return on Invested Capital for the company is -11.23. Return on Equity for this stock declined to -13.29, with Return on Assets sitting at -10.28. When it comes to the capital structure of this company, NexGen Energy Ltd [NXE] has a Total Debt to Total Equity ratio set at 19.74. Additionally, NXE Total Debt to Total Capital is recorded at 16.48, with Total Debt to Total Assets ending up at 14.87. Long-Term Debt to Equity for the company is recorded at 19.55, with the Long-Term Debt to Total Capital now at 16.33.

Reflecting on the efficiency of the workforce at the company, NexGen Energy Ltd [NXE] managed to generate an average of -$1,010,482 per employee.NexGen Energy Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.66 and a Current Ratio set at 13.66.

An analysis of Institutional ownership at NexGen Energy Ltd [NXE]

The top three institutional holders of NXE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in NXE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in NXE stock with ownership which is approximately 5.7994%.

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