The stock of NexGen Energy Ltd. (NYSE:NXE) increased by $0.07 on Monday to finish at $5.01, up 1.42 percent. The last five days have seen an average of 2,667,840 shares of common stock traded. 7 times new highs were reached in the current year, with a gain of $0.58. The average number of shares traded over the last 20 days was 2,101,080, while the average volume over the last 50 days totaled 2,063,510.
NXE stock appreciated 9.15% since last month. On 07/17/23, the company’s shares reached a one-month low of $4.50. The stock touched a high of $5.11 on 01/30/23, after rallying from a low of $3.40 in 52 weeks. The price of NXE stock has risen by 13.09% or $0.58 this year, reaching a new high 7 times. Still, the stock price is down -1.96% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Financial Health
For the three months ended June 29, NexGen Energy Ltd.’s quick ratio was 6.80, while its current ratio was 6.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.18, and the total debt to equity ratio is 0.18. Based on annual data, it had gross profit of $1.83 million and revenue of $45.98 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NXE’s return on assets (ROA) during the last 12 months has been -12.50%. In the meantime, the return on equity (ROE) for the last 12 months was -16.30%.
Earnings Surprise
According to NexGen Energy Ltd.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that NexGen Energy Ltd.’s quarterly earnings would be -$0.03, but it ended up being -$0.01. EBITDA was -$11.12 million for the quarter. At the end of NexGen Energy Ltd.’s most recent quarter ended June 29, its liabilities totaled 74.07 million, while its total debt was $81.07 million.
Technical Picture
Here’s a quick look at NexGen Energy Ltd.’s (NXE) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 62.60%, suggesting the stock is Neutral, with a 38.85% historical volatility rate.
The stochastic %K and %D were 61.26% and 53.85% respectively, while the average true range (ATR) was 0.21. Based on the 14-day stochastic reading of 84.68%, the RSI (14) reading is 60.40%. On the 9-day MACD Oscillator, the stock is at 0.03, and the 14-day reading is at 0.07.
Analyst Ratings
In its most recent analyst report, RBC Capital Mkts raised its rating on NexGen Energy Ltd. (NYSE: NXE) to an Outperform. Prior to this, analysts firm rated the stock as a Sector perform.
What is NXE’s price target for the next 12 months?
The current consensus forecast for the stock is between $5.40 and $8.72, with a median target price of $7.33. In analyzing these forecasts, the average price target given by analysts for NexGen Energy Ltd. (NXE) is $7.35.
