The stock of Nexgen Energy Ltd (TSE:NXE) hit a new 52-week low and has $2.00 target or 5.00% below today’s $2.11 share price. The 9 months bearish chart indicates high risk for the $644.18M company. The 1-year low was reported on Sep, 13 by Barchart.com. If the $2.00 price target is reached, the company will be worth $32.21 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 497,480 shares traded hands. Nexgen Energy Ltd (TSE:NXE) has risen 160.71% since February 5, 2016 and is uptrending. It has outperformed by 144.23% the S&P500.
NexGen Energy Ltd., formerly Clermont Capital Inc., is a Canada exploration-stage company. The company has a market cap of $644.18 million. The Firm operates in the segment of acquisition, exploration and development of uranium properties. It currently has negative earnings. It operates as a mineral exploration and development firm with a portfolio of projects that span the Athabasca Basin in Saskatchewan, Canada.
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