NexGen Energy Ltd. (NXE) shares are trading at higher $1.92.
To add more color to this target, the company’s high over the last year is $2.04 and the low is $0.50. Over the last 52 weeks, NXE is up 57.38% while the S&P 500 is up 18.49%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, NXE reported a profit of $2.65 million. NexGen Energy Ltd. also saw revenues increase to $3.06 million. In addition, NXE has free cash flow of -$16.14 million as of 09-2020. The company’s EBITDA came in at -$2.57 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NXE has a short ratio of 37.25 and outstanding shares of 376.95M.
NXE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.71 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.10. NexGen Energy Ltd. NXE also noted assets of $265.75 million at the end of the last quarter. Investors should also keep an eye on sector updates as NXE has historically followed its peers on positive news.
All told, NexGen Energy Ltd. NXE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NXE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
NexGen Energy Ltd. NXE is now commanding a market cap of 723.74M and a float of 337.80M. NXE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NXE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in NXE, either long or short, and we have not been compensated for this article.