NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs (NXG) AI Stock Analysis

• Market Cap: AU$10.87B
• Dividend Yield: N/A
• Average Volume (3M): 675.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.22
• Revenue Growth: N/A
• EPS Growth: -305.93%
• Country: AU
• Employees: 133
• Sector: Energy
• Sector Strength: 52
• Industry: Uranium
• EPS (TTM): -0.25
• Shares Outstanding: 654,561,100
• 10 Day Avg. Volume: 890,252
• 30 Day Avg. Volume: 675,587
• PEG Ratio: 0.37
• Price to Book (P/B): 4.52
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -34.44
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: AU$18.05
• Price Target Upside: 1.92% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: AU$19.00 ▲(7.28% Upside)

The score is held back primarily by weak current fundamentals (no revenue, losses, and negative cash flow) despite a supportive balance sheet. Technicals are positive but overextended, adding pullback risk. Earnings-call updates improve the outlook via strong funding and progress on contracts/approvals, while valuation remains constrained by negative earnings and no dividend support.

Positive Factors

Strong liquidity and recent capital raise

A CAD 1.2B cash position backed by an AUD 1B raise provides durable funding to advance Rook I through permitting and early construction phases. This reduces near-term execution and financing risk, enabling project milestones without immediate reliance on volatile market access.

Regulatory and indigenous support for Rook I

Legal advocacy from all four indigenous nations together with positive CNSC technical recommendations materially lowers permitting and social-license risk. This structural backing increases the likelihood of timely approvals and reduces long-term schedule and reputational uncertainty for project development.

Large project scale with advancing offtake talks

A target output of up to 30M lbs/yr paired with progressing negotiations across North America, Europe, Middle East and Asia anchors NexGen's long-term revenue potential. Securing offtake or prepayment terms would convert project scale into predictable cashflows once production starts.

Negative Factors

Pre-revenue with persistent operating losses

NexGen remains pre-revenue and records recurring operating losses, reflecting that project economics are unproven at scale. Until production commences, profitability is unattainable and the company cannot self-fund operations, a structural constraint on long-term sustainability.

Heavy negative free cash flow and ongoing cash burn

Deep, persistent negative free cash flow reflects substantial project capex and exploration spend. This structural cash burn necessitates project financing or further capital raises, creating dilution risk and dependency on external capital until sustained positive cash generation is achieved.

Rising leverage and negative returns on equity

Material increase in leverage alongside a return to negative ROE signals growing financial risk as development progresses. Higher debt raises fixed obligations and may constrain flexibility for additional financing or increase cost of capital during critical construction and commissioning stages.

NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Business Overview & Revenue Model

Company Description

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in 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.

How the Company Makes Money

NexGen Energy Ltd. generates revenue primarily through the exploration and development of uranium resources. Its main revenue stream is expected to come from the sale of uranium extracted from its projects, particularly the Rook I Project. NexGen's business model involves advancing its uranium deposits through stages of exploration, development, and eventually production, which will enable it to sell uranium to energy producers and utilities worldwide. Additionally, the company may engage in partnerships or joint ventures with other energy firms to enhance its operational capabilities and market reach. NexGen's earnings are influenced by uranium market prices, global energy demand, and its ability to efficiently bring its projects to production.

NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Financial Statement Overview

Summary

Development-stage profile with no revenue and persistent operating losses plus ongoing negative operating and free cash flow. The key offset is a solid capital base (equity exceeds debt) with moderate leverage, though debt has increased and returns turned negative again in 2024.

Income Statement

The company remains pre-revenue with total revenue at 0 across all reported years, so profitability is driven by expenses rather than operating scale. Operating losses are persistent (EBIT of -75.99M in 2024 vs. -82.93M in 2023, an improvement), but earnings are volatile with a one-off profit in 2023 (net income 80.82M) followed by a return to a loss in 2024 (-77.56M). Overall, the trajectory shows modest cost improvement but no demonstrated revenue engine yet.

Balance Sheet

The balance sheet shows meaningful equity support (equity 1.18B vs. debt 456.8M in 2024), keeping leverage moderate with debt-to-equity at ~0.39 in 2024. However, leverage has risen materially from 2023 (~0.20) as debt increased, and returns on equity swung back negative in 2024 (-6.6%) after a positive 2023. Net: solid capitalization for a development-stage company, but increasing debt and inconsistent returns raise risk.

Cash Flow

Cash generation is weak: operating cash flow is negative each year (2024: -24.09M; 2023: -52.62M), indicating ongoing cash burn. Free cash flow is also consistently negative and worsened in absolute terms in 2024 (-154.77M vs. -168.42M in 2023, still deeply negative), suggesting heavy investment/spend without operating inflows. The improvement in operating cash burn is a positive, but the business remains dependent on external funding until cash flows turn.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-133.60M	-76.78M	-82.93M	-58.13M	-49.05M	-21.34M
Net Income	-193.76M	-77.56M	80.82M	-56.59M	-119.09M	-109.83M
Balance Sheet
Total Assets	1.55B	1.66B	1.01B	554.56M	546.56M	357.39M
Cash, Cash Equivalents and Short-Term Investments	371.56M	476.59M	290.74M	140.22M	211.12M	74.02M
Total Debt	489.08M	456.80M	160.42M	82.48M	75.18M	230.88M
Total Liabilities	520.34M	478.20M	187.41M	99.14M	85.22M	238.14M
Stockholders Equity	1.03B	1.18B	820.02M	417.88M	433.61M	94.25M
Cash Flow
Free Cash Flow	-207.34M	-154.77M	-168.42M	-20.53M	-63.70M	-28.86M
Operating Cash Flow	-24.43M	-24.09M	-52.62M	-20.18M	-16.79M	-10.62M
Investing Cash Flow	-142.21M	-130.68M	-160.14M	-68.05M	-46.71M	-18.24M
Financing Cash Flow	-26.93M	344.64M	368.89M	19.86M	191.35M	51.23M

NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.71
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NXG, the sentiment is Positive. The current price of 17.71 is above the 20-day moving average (MA) of 17.46, above the 50-day MA of 15.18, and above the 200-day MA of 12.15, indicating a bullish trend. The MACD of 0.93 indicates Positive momentum. The RSI at 61.57 is Neutral, neither overbought nor oversold. The STOCH value of 13.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:NXG.

NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
NXG	60 Neutral	AU$10.87B	-28.05	-17.60%	―	―	-305.93%
PDN	55 Neutral	AU$6.10B	-77.33	-6.47%	―	―	-163.65%
BMN	55 Neutral	AU$886.75M	-173.58	-2.73%	―	―	60.83%
DYL	53 Neutral	AU$2.60B	360.81	1.08%	―	-100.00%	―
BKY	46 Neutral	AU$256.62M	-47.13	-6.30%	―	―	-67.12%
ERA	37 Underperform	AU$1.22B	―	―	―	-100.00%	98.06%

NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Corporate Events

NexGen Energy Reports Higher CDI Count and Expanded Equity on Issue for December

NexGen Energy has reported its December 2025 statement of CHESS Depositary Interests (CDIs) and related securities on issue, showing a modest increase in the number of CDIs on the ASX to 152,067,401, driven by net transfers between CDIs and common shares listed on the TSX and NYSE. Over the same period, the company’s total common shares not represented by CDIs rose to 507,892,671, while outstanding options increased to 49,547,625 due to new options issued, exercises and cancellations, and the volume of convertible debentures remained unchanged, indicating incremental equity expansion and active management of its capital structure without additional debenture issuance.

The most recent analyst rating on (AU:NXG) stock is a Hold with a A$15.00 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Issues New Shares to Debenture Holders

NexGen Energy Ltd. has issued 635,659 new common shares to holders of its 2023 and 2024 Unsecured Convertible Debentures as partial satisfaction of accrued interest. This move, announced under section 708A(5)(e) of the Corporations Act, reflects NexGen’s compliance with relevant disclosure obligations and aims to manage its financial commitments effectively.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Ltd. Reports Changes in Securities Issuance

NexGen Energy Ltd. announced a net decrease in the number of Chess Depository Interests (CDIs) issued over quoted securities, with a reduction of 1,695,769 CDIs from the previous month. This change was attributed to net transfers of securities between CDIs and common shares across the TSX and NYSE. Additionally, there was an increase in common shares and a decrease in options due to various transactions, reflecting ongoing adjustments in the company’s securities management.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Certifies Accuracy of Interim Financial Filings

NexGen Energy Ltd. has completed its interim financial filings for the period ending September 30, 2025. The company’s Chief Financial Officer, Benjamin Salter, has certified that the filings are accurate and have been prepared with reasonable diligence, ensuring no material misrepresentations. The company has also maintained robust internal controls over financial reporting and disclosure procedures, adhering to the standards set by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Ltd. Certifies Accurate Interim Financial Report

NexGen Energy Ltd. has released its interim financial report for the period ending September 30, 2025. CEO Leigh Curyer certifies that the filings are accurate and fairly present the company’s financial condition, performance, and cash flows. The company has implemented robust disclosure controls and internal controls over financial reporting to ensure reliability and compliance with securities legislation.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Releases Q3 2025 Financial and Operational Highlights

NexGen Energy Ltd. has released its Management’s Discussion and Analysis for the three and nine months ended September 30, 2025, detailing its financial performance and operational highlights. The report provides insights into the company’s financial position, liquidity, capital resources, and risk management strategies, emphasizing the company’s ongoing commitment to health, safety, and environmental standards. The analysis also outlines the operational outlook and strategic focus on the Rook I Project, which is central to the company’s growth strategy.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Reports Financial Update Amid Rising Liabilities

NexGen Energy Ltd. reported its condensed interim consolidated financial statements for the period ending September 30, 2025, showing a decrease in total assets from $1.66 billion to $1.57 billion. The company’s liabilities increased significantly due to a rise in convertible debentures, impacting its overall equity, which fell from $1.18 billion to $918.8 million. This financial update highlights the company’s ongoing financial challenges and the potential implications for its stakeholders as it continues to navigate the complexities of uranium exploration and development.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.

NexGen Energy Adjusts Securities Holdings with Net CDI Reduction

NexGen Energy Ltd. has announced a net decrease in the number of Chess Depository Interests (CDIs) issued over quoted securities, with a reduction of 3,908,207 CDIs in October 2025. This change is attributed to net transfers of securities between CDIs and common shares listed on the Toronto Stock Exchange and New York Stock Exchange. Additionally, the company reported an increase in common shares and a decrease in options due to various transactions, reflecting ongoing adjustments in its securities management.

The most recent analyst rating on (AU:NXG) stock is a Buy with a A$17.70 price target. To see the full list of analyst forecasts on NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs stock, see the AU:NXG Stock Forecast page.