Insider Selling: NexGen Energy Ltd. (TSE:NXE) Director Sells 1,250,000 Shares

NexGen Energy Ltd. (TSE:NXE - Get Free Report) experienced significant insider activity recently as Director Leigh Robert Curyer sold 1,250,000 shares of the company's stock. This transaction took place on Thursday, December 12th, 2023. The shares were sold at an average price of C$11.55, leading to a total transaction value of C$14,442,875.00.

NexGen Energy Stock Performance

On the following day, Friday, NexGen's stock traded down by 3.6%, dropping C$0.40 to reach a price of C$10.69. During this trading session, 1,213,116 shares changed hands, which is somewhat below the average volume of 1,927,272 shares. Currently, NexGen Energy Ltd. has a market capitalization of C$6.04 billion, a price-to-earnings (PE) ratio of 63.00, and a beta of 1.76. The stock’s performance over the past year has seen a low of C$7.04 and a high of C$12.51. The 50-day moving average price stands at C$10.63, while the 200-day moving average is C$9.56. Other financial metrics include a quick ratio of 8.20, a current ratio of 1.20, and a debt-to-equity ratio of 39.09.

Recent Earnings Report

NexGen Energy recently released its quarterly earnings results on November 7th. The company reported earnings per share of C($0.05), which was below the consensus estimate of C($0.04). In the same quarter last year, NexGen recorded earnings of C($0.03) per share. Analysts predict that NexGen Energy Ltd. will report an earnings per share of -$0.07 for the current fiscal year.

Analyst Ratings and Price Targets

A number of analysts have provided insights on NexGen Energy's stock. National Bankshares raised their price target from C$11.00 to C$13.00 while maintaining an "outperform" rating as of October 24th. Scotiabank increased its target price from C$12.75 to C$14.00 in a report dated November 20th. Additionally, National Bank Financial upgraded NexGen Energy to a "strong-buy" rating on September 3rd. Ventum Financial set a price objective range from C$12.00 to C$14.00 with a "buy" rating during August. Cormark also raised its target price from C$13.00 to C$13.50 on November 20th. Overall, seven analysts have given the stock a buy rating, with three providing a strong buy recommendation, leading to an average rating of "Buy" and a consensus target price of C$14.42 according to MarketBeat.com.

About NexGen Energy

NexGen Energy Ltd. is primarily involved in the exploration and development of uranium properties in Canada. The company holds a 100% interest in the Rook I project, which consists of 32 contiguous mineral claims covering an area of 35,065 hectares in the southwestern Athabasca Basin of Saskatchewan.

Insider, Selling, NexGen