NexGen Energy Ltd [NXE] is 4.57% higher this YTD. Is it still time to buy?

NexGen Energy Ltd [NYSE: NXE] loss -1.61% or -0.12 points to close at $7.32 with a heavy trading volume of 4191199 shares. The company report on March 11, 2024 at 6:30 AM that NexGen Announces Discovery of New Intense Mineralization in Greenfields Discovery 3.5 Kilometers from Arrow.

NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX: NXE) (NYSE: NXE) (ASX: NXG) is pleased to announce the discovery of new intense uranium mineralization on its 100% owned SW2 Property, 3.5 kilometers (km) east of NexGen’s world-class Arrow Deposit (Figure 1). The new mineralized occurrence in RK-24-183 is located on a previously untested conductor segment of Patterson Corridor East (“PCE”). Localized uranium mineralization was intersected for 19.8 meters (m) between 347.7 and 367.5 m, with peaks up to >61,000 counts per second (cps)*. Exploration is predominantly open in all directions including over 1.5 km along strike (Figures 2 and 3).

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Leigh Curyer, Chief Executive Officer, commented: “Ten years after the discovery of our world-class Arrow deposit, we are thrilled to be sharing this exciting news. This new intercept reflects the high potential of NexGen’s extensive land package in the south-western section of the Athabasca Basin, Saskatchewan and is a testament to the strategic and disciplined approach to identifying new Arrow-type zones of mineralization. Drilling activity is being fully dedicated to this new discovery area to advance our understanding of scope and scale of mineralization. This hole which intersected 3.0 m of up to 61,000 cps is significantly better on all metrics than RK-14-21(the Arrow discovery hole) which intersected less than 0.5 m of greater than 9,999 cps.

The daily chart for NXE points out that the company has recorded 16.01% gains over the past six months.

If we look at the average trading volume of 6.71M shares, NXE reached to a volume of 4191199 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 $10.04 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 1.12. 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. 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 0.38 The Price to Book ratio for the last quarter was 6.18, with the Price to Cash per share for the same quarter was set at 0.41.

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 -1.74. With this latest performance, NXE shares dropped by -1.48% in over the last four-week period, additionally plugging by 16.01% over the last 6 months – not to mention a rise of 97.84% 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 48.61, with the RSI for the last a single of trading hit 47.60, and the three-weeks RSI is set at 49.55 for NexGen Energy Ltd [NXE]. The present Moving Average for the last 50 days of trading for this stock 7.45, while it was recorded at 7.31 for the last single week of trading, and 6.04 for the last 200 days.

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

NexGen Energy Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.00 and a Current Ratio set at 11.00.

NexGen Energy Ltd [NXE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, NexGen Energy Ltd posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NXE.

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 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NXE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NXE stock with ownership which is approximately 5.8325%.