TD Securities Maintains Their Buy Rating on NexGen Energy

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, NexGen Energy (TSX: NXE). Analyst Craig Hutchison from TD Securities remains bullish on the stock and has a C$4.50 price target.

Hutchison wrote:

“We allow for a 4-5 year permitting timeline based on the initiation of permitting in H1/18.”

According to TipRanks.com, Hutchison is a 3-star analyst with an average return of 5.8% and a 37.5% success rate. Hutchison covers the Basic Materials sector, focusing on stocks such as Nevsun Resources Ltd, Taseko Mines Limited, and Turquoise Hill.

NexGen Energy has an analyst consensus of Moderate Buy, with a price target consensus of C$3.87.

Based on NexGen Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$0 and GAAP net loss of C$25.48 million. In comparison, last year the company earned revenue of C$0 and had a GAAP net loss of C$1.59 million.

NexGen Energy Ltd. is an exploration stage company engaged in the business of acquisition, exploration, and development of uranium properties in Canada. The company projects include Arrow, Rook I, Radio and Thoburn lake. NexGen Energy was founded on March 8, 2011 and is headquartered in Vancouver, Canada.

The company’s shares closed on Tuesday at $2.72.