Initiating Coverage
We are initiating coverage of NexGen Energy with a BUY rating and a C$10.00/sh target price. NexGen (NXE) is an exploration and development company with a portfolio of large-scale uranium assets in the southwestern region of the Athabasca Basin. It owns the Rook I property, which is a world-class development stage project, and is host to some of the most exciting uranium discoveries in recent times including the Arrow deposit. In our view, NexGen has a strong management team that is well positioned to advance its uranium projects in a top-tier global mining jurisdiction.