Streetbeat News

NXE

NexGen Energy Ltd.

https://www.nexgenenergy.ca

Industry

Uranium

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. Its principal asset is the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan. The company is headquartered in Vancouver, Canada.

Open

7.56

Mkt cap

4.5B

Volume

9.6M

High

8.09

P/E Ratio

37.71

52-wk high

8.88

Low

7.56

Div yield

N/A

52-wk low

4.95

NexGen Energy has entered into a binding term sheet with MMCap International Inc. for the purchase of 2,702,410 pounds of natural uranium concentrate at a cost of $250 million. This strategic acquisition secures a significant amount of uranium, indicating NexGen's commitment to expanding its resource base and potentially increasing its market value.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:36 am

The U.S. Senate approved a ban on Russian enriched uranium, aiming to reduce reliance on Russian nuclear fuel and boost North American uranium miners. President Biden is expected to sign the bill, which could lead to higher uranium prices and increased domestic production. Cameco Corp. (CCJ) and other miners like NexGen Energy Ltd. (NXE) and Madison Metals Inc. (MMTLF) view this as positive for the industry. Utilities like Constellation Energy Corp. (CEG) and Duke Energy Corp. (DUK) have prepared by securing diverse uranium supplies. The ban, effective 90 days post-law enactment, includes waivers until 2028 for certain situations.

Portfolio Pulse from Matt Whittaker

May 03, 2024 | 7:54 pm

NexGen Energy's stock is trading lower following the announcement of an upsized offering in Australia, indicating a potential dilution of existing shares.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:33 pm

NexGen Energy Ltd. (NXE) has upsized its Australian offering to 20,161,290 common shares at C$11.11 each, totaling approximately C$224 million. The offering aims to enhance liquidity and market capitalization of its CDIs on the ASX. Proceeds will fund development and exploration of mineral properties. The offering, expected to close on May 15, 2024, is subject to TSX and NYSE approvals and certain conditions. Shares will be issued under a prospectus supplement to NexGen's base shelf prospectus.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:29 pm

U.S. stocks were lower, with the Dow Jones falling around 250 points on Monday. However, several stocks recorded gains, led by Micron Technology, Inc. (MU) which rose 6.6% after B of A Securities maintained a Buy rating and raised its price target. Other notable movers include Doma Holdings Inc. (DOMA), Mesoblast Limited (MESO), and Iris Energy Limited (IREN), among others, due to various positive developments such as merger transactions, FDA updates, and analyst ratings.

Portfolio Pulse from Avi Kapoor

April 01, 2024 | 5:02 pm

Uranium stocks are experiencing an uptick following news that US oil companies are considering the use of small nuclear reactors for powering drilling operations in the Permian Basin. This development could signal a new demand avenue for uranium, potentially boosting the sector.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:20 pm

NexGen Energy (NYSE:NXE) reported its Q4 earnings on March 7, 2024, missing estimated earnings by -100.0% with an EPS of $-0.06 versus an estimate of $-0.03. Revenue remained unchanged from the same period last year. Following a similar miss last quarter, the share price dropped by 5.0% the next day.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 1:20 pm

The uranium mining industry is witnessing a resurgence due to rising nuclear fuel prices, driven by increased interest in nuclear energy as a solution to climate change. This has led to the revival of old mines and a flurry of mergers and acquisitions in the sector. Companies like Cameco and Denison Mines are ramping up production in Canada, while NexGen Energy, 92 Energy, IsoEnergy, and Fission Uranium Corporation are engaging in significant financial activities to expand their operations. The U.S. is also seeing a revival in uranium production amid geopolitical tensions affecting uranium imports from Kazakhstan.

Portfolio Pulse from Stjepan Kalinic

March 04, 2024 | 3:39 pm

Uranium stocks are trading higher following a report that Kazatomprom, a major miner, is likely to face a production shortfall, impacting the supply outlook for uranium.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:39 pm

NexGen Energy has updated its at-the-market equity program, allowing the company to offer and sell up to C$500 million worth of common shares directly from the treasury.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 6:40 am

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