Nexgen Energy (US) (TSE:NXE)
NYSE:NXE
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NexGen Energy
(NYSE:NXE)
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Rating:56Neutral
Price Target:
C$15.00
▼(-13.49% Downside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak financial performance (no revenue, widening losses, and worsening cash burn) despite a comparatively supportive balance sheet. Offsetting this, the latest earnings call indicated strong project readiness and liquidity after a large capital raise, though regulatory and financing milestones are still pending. Technicals are neutral-to-slightly positive, while valuation offers limited support due to losses and no dividend.
Positive Factors
Strong post-raise liquidity
A >$1.1B cash position and a CAD 950M raise materially extend NXE's runway into initial construction, funding near-term CapEx (~CAD 300M first year) and procurement. This durable liquidity reduces immediate dilution and execution risk while enabling staged project delivery over 2–4 years.
Negative Factors
No revenue; widening net losses
The company remains pre‑revenue with large, growing net losses, meaning value creation is contingent on future project delivery and commodity pricing rather than current operations. Persistent losses increase financing needs and place long‑term reliance on capital markets and project execution to realize returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong post-raise liquidity
A >$1.1B cash position and a CAD 950M raise materially extend NXE's runway into initial construction, funding near-term CapEx (~CAD 300M first year) and procurement. This durable liquidity reduces immediate dilution and execution risk while enabling staged project delivery over 2–4 years.
Read all positive factors
NexGen Energy (NXE) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$10.24B
Dividend YieldN/A
Average Volume (3M)1.99M
Price to Earnings (P/E)―
Beta (1Y)2.39
Revenue GrowthN/A
EPS Growth-316.64%
CountryCA
Employees133
SectorEnergy
Sector Strength52
IndustryUranium
Share Statistics
EPS (TTM)-0.69
Shares Outstanding661,069,600
10 Day Avg. Volume2,383,825
30 Day Avg. Volume1,991,099
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.06
Price to Sales (P/S)0.00
P/FCF Ratio-95.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$22.14Price Target Upside27.70% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.27
Revenue Forecast (FY)C$1.00M
NexGen Energy 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. Its principal asset is the Rook I project comprising 32 contiguous mineral c...
How the Company Makes Money
As of publicly available information up to recent filings and company disclosures, NexGen Energy has been primarily an exploration and development-stage company and has not been a consistent uranium producer; therefore, it generally has not genera...
NexGen Energy Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call emphasized major strategic and operational milestones: robust balance sheet after a CAD 950M raise, completion of CNSC hearings with staff recommendation to approve, strong exploration results at PCE, site preparedness and significant market tailwinds (spot market activity, large price appreciation and rising utility/hyperscaler demand). The key outstanding items are final federal approval and the remaining project financing (timing 0–18 months), plus additional offtake to fully cover break-even production. Overall, positive execution progress and market dynamics materially outweigh the remaining regulatory and financing execution risks.Positive Updates
Strong Balance Sheet and Recent Capital Raise
Year-end cash position of over $1.1 billion; completed a CAD 950 million capital raise (including CAD 600 million from Australian investors) which materially increased market capitalization, liquidity and enabled inclusion in the S&P/ASX 200 Index on December 22, 2025.
Negative Updates
Final Federal Approval Still Pending
Although CNSC staff recommended approval and hearings are complete, the company remains dependent on final federal approval to commence construction — a discrete regulatory step still outstanding.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Balance Sheet and Recent Capital Raise
Year-end cash position of over $1.1 billion; completed a CAD 950 million capital raise (including CAD 600 million from Australian investors) which materially increased market capitalization, liquidity and enabled inclusion in the S&P/ASX 200 Index on December 22, 2025.
Read all positive updates
Company Guidance
Management's guidance emphasized that NexGen is construction‑ready pending final federal approval with an initial CapEx of CAD 2.2 billion, a CAD 950 million capital raise completed (including CAD 600 million from Australian investors) and cash of over $1.1 billion at year‑end (first 12 months of construction ~USD/CAD $300 million, under one‑third of cash on hand) toward a 48‑month construction schedule. They noted 28 RFP packages issued in 2025, critical path items secured, the freeze plant staged in Saskatoon, plans to expand camp accommodation from ~220 to just under 600 beds, and procurement focus this year on temporary water, temporary power and the shaft‑sinking package, supported by >400,000 m of drilling data to 900 m. On marketing and finance, NexGen has ~2 million lb/year contracted in the first five years (breakeven ~3.5 million lb/year), expects additional offtake announcements in 2026, is engaging multiple financiers with final financing expected anytime up to ~18 months, and will preserve upside to the uranium price at delivery. Exploration and scale metrics include a 42,000 m PCE program with four rigs, cumulative site investment of ~USD/CAD $786 million since 2013, and readiness to mobilize immediately upon approval.NexGen Energy Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -2.08M | -2.20M | -2.25M | -1.80M | -1.81M | -2.13M |
| EBITDA | -247.43M | -87.64M | -33.47M | -82.93M | -57.11M | -119.71M |
| Net Income | -414.77M | -309.68M | -77.56M | 80.82M | -56.59M | -119.09M |
Balance Sheet | ||||||
| Total Assets | 2.47B | 2.47B | 1.66B | 1.01B | 554.56M | 546.56M |
| Cash, Cash Equivalents and Short-Term Investments | 1.02B | 1.12B | 476.59M | 290.74M | 140.22M | 211.12M |
| Total Debt | 714.62M | 586.91M | 456.80M | 160.42M | 82.48M | 75.18M |
| Total Liabilities | 767.98M | 640.83M | 478.20M | 187.41M | 99.14M | 85.22M |
| Stockholders Equity | 1.70B | 1.83B | 1.18B | 820.02M | 417.88M | 433.61M |
Cash Flow | ||||||
| Free Cash Flow | -193.31M | -77.75M | -154.77M | -168.42M | -20.53M | -63.70M |
| Operating Cash Flow | -71.83M | -77.25M | -24.09M | -52.62M | -20.18M | -16.79M |
| Investing Cash Flow | -635.59M | -523.85M | -130.68M | -160.14M | -68.05M | -46.71M |
| Financing Cash Flow | 930.15M | 929.18M | 344.64M | 368.89M | 19.86M | 191.35M |
NexGen Energy Technical Analysis
Negative
17.34
Price Trends
16.48
Negative
16.24
Negative
13.87
Positive
Market Momentum
-0.05
Positive
40.53
Neutral
22.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:NXE, the sentiment is Negative. The current price of 17.34 is above the 20-day moving average (MA) of 16.84, above the 50-day MA of 16.48, and above the 200-day MA of 13.87, indicating a neutral trend. The MACD of -0.05 indicates Positive momentum. The RSI at 40.53 is Neutral, neither overbought nor oversold. The STOCH value of 22.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | C$64.44B | 125.98 | 9.47% | 0.19% | 7.48% | 161.48% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
56 Neutral | C$10.24B | -17.09 | -30.30% | ― | ― | -316.64% | |
56 Neutral | C$326.04M | -23.69 | -3.91% | ― | ― | 47.63% | |
49 Neutral | C$264.75M | -44.27 | <0.01% | ― | ― | ― | |
43 Neutral | C$4.09B | -9.69 | -73.67% | ― | 1.82% | -149.96% | |
42 Neutral | C$390.08M | 22.69 | -10.95% | ― | -7.88% | 65.90% |
* Energy Sector Average
TSE:NXE
NexGen Energy
14.51
6.99
92.95%
TSE:CCO
Cameco
142.25
69.49
95.51%
TSE:DML
Denison Mines
4.34
2.33
115.92%
TSE:EU
enCore Energy
1.90
-0.32
-14.41%
TSE:MGA
Mega Uranium
0.62
0.36
138.46%
TSE:SASK
Atha Energy Corp.
0.93
0.52
126.83%
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.