November 22, 2024

RBC Capital Remains a Buy on NexGen Energy (NXE)

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In a report released today, Andrew Wong CFA from RBC Capital maintained a Buy rating on NexGen Energy (NXE – Research Report), with a price target of C$15.00. The company’s shares closed yesterday at $8.33.

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According to TipRanks, Wong CFA is a 4-star analyst with an average return of 9.3% and a 52.63% success rate. Wong CFA covers the Basic Materials sector, focusing on stocks such as Nutrien, Mosaic Co, and Cf Industries Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for NexGen Energy with a $9.95 average price target, a 19.45% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$13.50 price target.

Based on NexGen Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $10.25 million. In comparison, last year the company had a net profit of $3.62 million

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NexGen Energy (NXE) Company Description:

NexGen Energy Ltd. engages in the acquisition, exploration, and development of uranium properties. Its project portfolio includes Arrow, South Arrow, Harpoon, Rook I, and IsoEnergy. The company was founded by Leigh B. Curyer on March 8, 2011 and is headquartered in Vancouver, Canada.

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