NexGen Energy Ltd.

TSX:NXE Stock Report

Market Cap: CA$4.0b

NexGen Energy Valuation

Is NXE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NXE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate NXE's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NXE's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NXE?

Key metric: As NXE is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for NXE. This is calculated by dividing NXE's market cap by their current book value.
What is NXE's PB Ratio?
PB Ratio3.6x
BookCA$1.18b
Market CapCA$4.01b

Price to Book Ratio vs Peers

How does NXE's PB Ratio compare to its peers?

The above table shows the PB ratio for NXE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average2.6x
DML Denison Mines
3.2x53.9%CA$1.7b
EFR Energy Fuels
1.8x67.8%CA$1.3b
CCO Cameco
4.3x29.3%CA$26.6b
EU enCore Energy
1.1x78.5%CA$402.3m
NXE NexGen Energy
3.6x34.0%CA$4.0b

Price-To-Book vs Peers: NXE is expensive based on its Price-To-Book Ratio (3.6x) compared to the peer average (2.6x).

Price to Book Ratio vs Industry

How does NXE's PB Ratio compare vs other companies in the CA Oil and Gas Industry?

9 CompaniesPrice / BookEstimated GrowthMarket Cap
FEC Frontera Energy
0.2xn/aUS$275.21m
YGR Yangarra Resources
0.2xn/aUS$62.66m
CWV Crown Point Energy
0.1xn/aUS$6.57m
RHC.H Royal Helium
0.2xn/aUS$5.00m
NXE 3.6xIndustry Avg. 1.2xNo. of Companies24PB00.81.62.43.24+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: NXE is expensive based on its Price-To-Book Ratio (3.6x) compared to the Canadian Oil and Gas industry average (1.2x).

Price to Book Ratio vs Fair Ratio

What is NXE's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NXE PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio3.6x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate NXE's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NXE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$7.36
CA$13.08
+77.7%
12.4%CA$16.00CA$10.00n/a14
Apr ’26CA$6.55
CA$13.29
+102.9%
10.5%CA$16.00CA$11.00n/a14
Mar ’26CA$7.63
CA$14.04
+84.0%
5.3%CA$15.00CA$13.00n/a14
Feb ’26CA$9.49
CA$13.83
+45.7%
6.3%CA$15.00CA$12.00n/a14
Jan ’26CA$9.48
CA$14.15
+49.3%
14.1%CA$21.00CA$12.00n/a15
Dec ’25CA$11.91
CA$13.95
+17.1%
15.4%CA$21.00CA$11.00n/a15
Nov ’25CA$10.09
CA$12.89
+27.8%
18.9%CA$21.00CA$10.00n/a14
Oct ’25CA$8.95
CA$12.75
+42.5%
19.5%CA$21.00CA$10.00n/a14
Sep ’25CA$8.11
CA$13.04
+60.8%
18.9%CA$21.00CA$10.00n/a13
Aug ’25CA$8.10
CA$13.59
+67.8%
17.6%CA$21.00CA$11.00n/a13
Jul ’25CA$9.54
CA$13.97
+46.4%
16.6%CA$21.00CA$11.00n/a12
Jun ’25CA$10.62
CA$13.97
+31.6%
16.6%CA$21.00CA$11.00n/a12
May ’25CA$10.74
CA$14.05
+30.8%
17.3%CA$21.00CA$11.00n/a11
Apr ’25CA$11.45
CA$13.70
+19.6%
17.3%CA$21.00CA$11.00CA$6.5513
Mar ’25CA$10.48
CA$13.32
+27.1%
20.4%CA$21.00CA$11.00CA$7.6312
Feb ’25CA$11.04
CA$12.29
+11.3%
22.9%CA$21.00CA$10.00CA$9.4912
Jan ’25CA$9.27
CA$11.50
+24.1%
8.7%CA$14.00CA$10.00CA$9.4812
Dec ’24CA$8.72
CA$11.29
+29.5%
10.1%CA$14.00CA$10.00CA$11.9112
Nov ’24CA$8.41
CA$11.08
+31.8%
9.7%CA$14.00CA$10.00CA$10.0912
Oct ’24CA$8.13
CA$10.46
+28.6%
7.7%CA$11.50CA$9.00CA$8.9512
Sep ’24CA$7.18
CA$10.00
+39.3%
11.6%CA$11.50CA$7.25CA$8.1112
Aug ’24CA$6.46
CA$9.88
+52.9%
12.5%CA$11.50CA$7.25CA$8.1012
Jul ’24CA$6.25
CA$9.86
+57.8%
13.0%CA$11.50CA$7.25CA$9.5411
Jun ’24CA$5.78
CA$9.82
+69.9%
14.1%CA$11.50CA$6.75CA$10.6211
May ’24CA$5.18
CA$9.82
+89.5%
14.1%CA$11.50CA$6.75CA$10.7411
Apr ’24CA$5.19
CA$9.82
+89.2%
14.1%CA$11.50CA$6.75CA$11.4511
AnalystConsensusTarget
Consensus Narrative from 14 Analysts
CA$13.08
Fair Value
43.7% undervalued intrinsic discount
14
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/28 05:02
End of Day Share Price 2025/04/28 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NexGen Energy Ltd. is covered by 20 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Regan BurrowsBell Potter
Alexander Robert PearceBMO Capital Markets Equity Research
Katie LachapelleCanaccord Genuity