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NexGen Energy (TSE:NXE)
TSX:NXE
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NexGen Energy
(TSX:NXE)
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Rating:55Neutral
Price Target:
C$13.00
▼(-12.99% Downside)
The score is held back primarily by weak financial performance (no revenue, ongoing losses, and significant cash burn) and limited valuation support from a negative P/E and no dividend. Offsetting this, technicals show an improving trend with positive momentum signals, and the latest earnings call conveyed strong uranium-market tailwinds and meaningful Rook I execution progress, tempered by federal approval risk.
NexGen Energy (NXE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$9.78B
Dividend YieldN/A
Average Volume (3M)3.05M
Price to Earnings (P/E)―
Beta (1Y)2.60
Revenue GrowthN/A
EPS Growth-308.46%
CountryCA
Employees133
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.23
Shares Outstanding654,561,100
10 Day Avg. Volume4,229,749
30 Day Avg. Volume3,048,942
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)4.46
Price to Sales (P/S)0.00
P/FCF Ratio-33.98
Enterprise Value/Market Cap0.56
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-2.45K
Enterprise Value/Ebitda-31.48
Forecast
1Y Price Target
$17.87Price Target Upside19.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NexGen Energy Business Overview & Revenue Model
Company DescriptionNexGen 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.
How the Company Makes MoneyNexGen Energy generates revenue primarily through the development and potential future sale of uranium extracted from its mining projects. While the company is still in the exploration and development phase, its revenue model is based on the successful extraction and commercialization of uranium resources. Key revenue streams are expected to include the sale of uranium to nuclear power plants and other entities requiring uranium for energy production. Significant factors contributing to its earnings include the successful development of its Rook I project, the global demand for nuclear energy, and partnerships with industry stakeholders that facilitate the advancement and commercialization of its uranium assets.
NexGen Energy Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 20, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong positive outlook for NexGen Energy, driven by favorable uranium market dynamics, successful financial positioning, and robust support from indigenous nations and the government for the Rook I project. Despite supply disruptions and the dependency on federal approval, the company's strategic initiatives and preparations position it well for future growth.Q3-2025 Updates
Positive Updates
Strong Uranium Market Dynamics
Spot prices for uranium rose 16% to USD 83.25 per pound in Q3, with a term price rising to USD 86 per pound, its highest level since May 2008, signaling a 'higher for longer' market.
Successful Global Equity Offering
NexGen raised AUD 1 billion, strengthening its financial position to advance the Rook I project upon federal approval.
Indigenous and Governmental Support
All four indigenous nations and the province of Saskatchewan are legally supportive and publicly advocating for the immediate approval of the Rook I project.
Robust Contracting and Negotiations
NexGen has signed four contracts and has six under negotiation, with pricing terms higher than those reported in the market. The company averages 2 million pounds over the first five years of production.
Advanced Preparations for Rook I
Detailed engineering for the first 18 months of construction is complete, and critical path items are secured and ready for deployment immediately following federal approval.
Negative Updates
Supply Disruptions and Production Cuts
The third quarter saw widespread production guidance cuts globally, including at Kazatomprom and Cameco, reflecting late in-life mine challenges.
Dependency on Federal Approval
The final federal approval for the Rook I project is pending, with the first commission hearing scheduled in 13 days from the call date.
Company Guidance
During the NexGen Energy Q3 2025 earnings call, CEO Leigh Curyer provided a robust outlook on the uranium market, highlighting a substantial increase in uranium demand forecasts, which have escalated tenfold compared to three years ago. The spot prices for uranium rose 16% to USD 83.25 per pound in the third quarter, while term prices reached USD 86 per pound, their highest since May 2008. Curyer emphasized the company's strategic positioning with the Rook I project, capable of producing 30 million pounds of uranium annually, which aligns with the global demand-supply deficit projected into 2030. He also announced NexGen's strengthened financial position following a successful AUD 1 billion raise, leaving the company with a cash balance of approximately CAD 1.2 billion to support ongoing development. The call underscored the company's ongoing negotiations with utilities worldwide for long-term supply contracts and marked the upcoming commission hearings for Rook I as pivotal milestones in advancing the project towards production.NexGen Energy Financial Statement Overview
Summary
NexGen Energy faces significant challenges with zero revenue and consistent losses, which undermine its income statement performance. The balance sheet shows financial resilience with strong equity and liquidity. However, cash flow issues persist despite financing activities, reflecting operational and capital expenditure challenges. The company must focus on revenue generation and improving cash flow management to enhance its financial health.Income Statement
NexGen Energy has reported zero revenue for the Trailing-Twelve-Months, indicating no operational income. The consistent negative EBIT and EBITDA suggest ongoing operational losses. The net profit margin is negative, further reflecting profitability challenges. The company shows no revenue growth, which is concerning for future prospects.Balance Sheet
The balance sheet shows a strong equity position with an equity ratio of approximately 71% in the TTM, indicating financial stability and low leverage. Although the debt-to-equity ratio is moderate, reflecting some reliance on debt for financing, the company maintains a substantial cash position, enhancing its liquidity.Cash Flow
The operating cash flow is negative, suggesting operational cash burn. Despite significant financing inflows, the free cash flow remains negative, indicating challenges in covering capital expenditures. The operating cash flow to net income ratio is negative, highlighting cash flow management issues.| 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 | -2.25M | -2.25M | -1.80M | -1.81M | -2.13M | -2.28M |
| EBITDA | -175.03M | -33.47M | -82.93M | -57.11M | -119.71M | -97.42M |
| 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 Technical Analysis
Positive
14.94
Price Trends
12.55
Positive
11.98
Positive
10.13
Positive
Market Momentum
0.66
Negative
68.86
Neutral
91.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NXE, the sentiment is Positive. The current price of 14.94 is above the 20-day moving average (MA) of 13.02, above the 50-day MA of 12.55, and above the 200-day MA of 10.13, indicating a bullish trend. The MACD of 0.66 indicates Negative momentum. The RSI at 68.86 is Neutral, neither overbought nor oversold. The STOCH value of 91.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:NXE.
NexGen Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | C$63.82B | 123.84 | 7.97% | 0.19% | 23.88% | 350.69% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
55 Neutral | $9.78B | -25.60 | -30.71% | ― | ― | -308.46% | |
53 Neutral | $4.15B | -21.18 | -38.86% | ― | ― | ― | |
53 Neutral | C$223.15M | -45.31 | -1.98% | ― | ― | 22.89% | |
50 Neutral | C$206.63M | -17.57 | -4.96% | ― | ― | 52.63% | |
46 Neutral | C$732.15M | -9.84 | -19.80% | ― | 2.06% | 13.58% |
* Energy Sector Average
TSE:NXE
NexGen Energy
14.94
5.31
55.14%
TSE:CCO
Cameco
146.57
76.47
109.08%
TSE:DML
Denison Mines
4.62
1.85
66.79%
TSE:EU
enCore Energy
3.91
-0.94
-19.38%
TSE:MGA
Mega Uranium
0.58
0.25
75.76%
TSE:SASK
Atha Energy Corp.
0.68
0.06
9.68%
NexGen Energy Corporate Events
Business Operations and Strategy
NexGen Energy Reports Record High-Grade Uranium Assay at Patterson Corridor East
Positive
Dec 1, 2025
NexGen Energy announced its highest-grade assay results to date from the Patterson Corridor East, with drill hole RK-25-256 revealing significant uranium mineralization. This discovery enhances the company’s understanding of the region’s uranium potential and positions NexGen as a key player in the global uranium market, contributing to the demand for critical minerals.
The most recent analyst rating on (TSE:NXE) stock is a Buy with a C$20.00 price target. To see the full list of analyst forecasts on NexGen Energy stock, see the TSE:NXE Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.