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NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs
(Sydney:NXG)
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Rating:54Neutral
Price Target:
AU$14.50
▼(-7.35% Downside)
Action:Reiterated
Date:08/10/26
Overall score reflects a tug-of-war between weak current financial performance (no revenue, ongoing losses and intensified cash burn) and a strong operational narrative from the latest earnings call (on-schedule build progress, substantial liquidity, and reiterated capex guidance). Technicals are mixed with only modest near-term momentum and a weaker longer-term trend, while valuation signals are limited and not supportive due to negative earnings and no stated dividend yield.
Positive Factors
On-schedule Construction
Consistent on-schedule, on-scope execution materially reduces execution risk for a multi-year mine build. Durable delivery of earthworks, accommodation and infrastructure bolsters confidence in the four-year path to first production, improving financing and contractor credibility long term.
Negative Factors
Pre-revenue Cash Burn
Sustained pre-revenue losses and negative operating cash flow create ongoing dependence on external capital. Over multiple quarters this increases dilution and refinancing risk, constrains strategic flexibility and can raise financing costs if market or credit conditions tighten before production cash flows emerge.
Read all positive and negative factors
Positive Factors
Negative Factors
On-schedule Construction
Consistent on-schedule, on-scope execution materially reduces execution risk for a multi-year mine build. Durable delivery of earthworks, accommodation and infrastructure bolsters confidence in the four-year path to first production, improving financing and contractor credibility long term.
Read all positive factors
NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs (NXG) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$9.21B
Dividend YieldN/A
Average Volume (3M)705.34K
Price to Earnings (P/E)―
Beta (1Y)1.91
Revenue GrowthN/A
EPS Growth-21.57%
CountryAU
Employees142
SectorGeneral
Sector StrengthN/A
IndustryUranium
Share Statistics
EPS (TTM)-0.43
Shares Outstanding670,506,100
10 Day Avg. Volume520,635
30 Day Avg. Volume705,344
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.11
Price to Sales (P/S)0.00
P/FCF Ratio-95.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
AU$21.65Price Target Upside38.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.2
Revenue Forecast (FY)N/A
NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Business Overview & Revenue Model
Company Description
NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, evaluation, and development of uranium properties in Canada. The company holds a 100% interest in the Rook I project that consists of 32 con...
How the Company Makes Money
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NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
Overall the call conveyed strong positive momentum: construction and site-readiness milestones were executed on schedule, exploration at PCE is making progress and commercial activity is advancing with multiple contract negotiations and a disclosed term sheet. The company entered the quarter with robust liquidity (CAD ~970M), validated capex assumptions (CAD 2.2B guidance unchanged to date) and multiple financing pathways, while market fundamentals (spot, term and forward prices) are favorable. Notable risks discussed include modest headline volume on the recent offtake term sheet, potential assay timing bottlenecks, labor/cost pressures and the need to finalize additional project financing, but management presented mitigants and a clear financing and execution plan.Positive Updates
On-schedule Construction Progress
All planned key construction milestones completed to scope, budget and schedule in Q2 2026. Completed a 3,000-foot airstrip (to be extended to 5,840 feet by Dec 2026), fully commissioned accommodation complex capable of ~700–770 persons, major earthworks, laydown facilities, effluent diffuser road, in-water works and site road networks advanced, and shaft-sinking and major EPC contracts awarded.
Negative Updates
Modest Size of Recent Contract Announcement
The most recent executed term sheet was for only 1.3 million pounds over a short duration — management characterized this as an introductory/relationship-building deal, but the small headline volume could be interpreted by some investors as limited near-term offtake volume.
Read all updates
Q2-2026 Updates
Positive
Negative
On-schedule Construction Progress
All planned key construction milestones completed to scope, budget and schedule in Q2 2026. Completed a 3,000-foot airstrip (to be extended to 5,840 feet by Dec 2026), fully commissioned accommodation complex capable of ~700–770 persons, major earthworks, laydown facilities, effluent diffuser road, in-water works and site road networks advanced, and shaft-sinking and major EPC contracts awarded.
Read all positive updates
Company Guidance
The call provided clear, metric-rich guidance: Rook 1 is on a four‑year path to first production with shaft‑sinking and freeze timelines targeted for early–mid 2027 (freeze mobilization early 2027; pre‑sinking by mid‑2027), earthworks dominating the rest of 2026, pads for shaft terraces completing in Q3 and concrete foundations/temporary freeze plant and primary batch plant starting in Q4 2026. Operational and construction metrics include a 3,000‑ft airstrip commissioned (to be extended to 5,840 ft by Dec 2026), accommodation for ~700–770 people (≈300 on site today), 575,000 tonnes of crushed aggregate stockpiled, a 950‑m pilot hole and 250‑m confirmation holes around the shafts, two batch plants staged (dry mix in Alberta, wet mix shipping in Sep), and a 42,000‑m Patterson Corridor East drill program ~50% complete (~20,000 m remaining). Commercial and financial metrics: term market ~$97/lb, spot mid‑$80s (~$85/lb), 5‑year forward ~$105/lb, uranium up ~500% over the last decade while supply rose ~14%, a recent 1.3M lb term sheet (company now ~11.3M lb contracted to spot exposure), 96% of reserves available for sale, breakeven ≈3.7M lb/year, balance sheet liquidity >CAD 970M, and the August 2024 CAD 2.2B capex estimate still validated by recent major contract awards.NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
56
Neutral
Cash Flow
18
Very 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 | -1.41M | -2.24M | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -202.34M | -89.04M | -76.78M | -82.93M | -58.13M | -49.05M |
| Net Income | -254.65M | -314.65M | -77.56M | 80.82M | -56.59M | -119.09M |
Balance Sheet | ||||||
| Total Assets | 2.53B | 2.48B | 1.66B | 1.01B | 554.56M | 546.56M |
| Cash, Cash Equivalents and Short-Term Investments | 970.25M | 1.13B | 476.59M | 290.74M | 140.22M | 211.12M |
| Total Debt | 613.07M | 587.79M | 456.80M | 160.42M | 82.48M | 75.18M |
| Total Liabilities | 684.04M | 641.79M | 478.20M | 187.41M | 99.14M | 85.22M |
| Stockholders Equity | 1.84B | 1.83B | 1.18B | 820.02M | 417.88M | 433.61M |
Cash Flow | ||||||
| Free Cash Flow | -241.12M | -79.00M | -154.77M | -168.42M | -20.53M | -63.70M |
| Operating Cash Flow | -71.29M | -78.49M | -24.09M | -52.62M | -20.18M | -16.79M |
| Investing Cash Flow | -528.46M | -532.26M | -130.68M | -160.14M | -68.05M | -46.71M |
| Financing Cash Flow | 991.74M | 944.10M | 344.64M | 368.89M | 19.86M | 191.35M |
NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Technical Analysis
Negative
15.65
Price Trends
14.04
Negative
14.77
Negative
15.53
Negative
Market Momentum
-0.02
Positive
39.59
Neutral
39.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NXG, the sentiment is Negative. The current price of 15.65 is above the 20-day moving average (MA) of 14.76, above the 50-day MA of 14.04, and above the 200-day MA of 15.53, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 39.59 is Neutral, neither overbought nor oversold. The STOCH value of 39.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NXG.
NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | AU$4.62B | 565.77 | 0.46% | ― | ― | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | AU$9.21B | -30.63 | -16.11% | ― | ― | -21.57% | |
51 Neutral | AU$810.47M | -344.14 | -0.94% | ― | ― | 70.28% | |
49 Neutral | AU$117.24M | -9.13 | -17.88% | ― | ― | 41.33% | |
49 Neutral | AU$1.38B | 790.63 | 0.29% | ― | -100.00% | ― | |
47 Neutral | AU$134.18M | -2.49 | -10.95% | ― | ― | -32.93% |
* General Sector Average
AU:NXG
NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs
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NexGen Energy Ltd. Shs Chess Depository Interests repr 1 shs Corporate Events
NexGen Energy Updates CDI and Capital Structure for June 2026
Jul 2, 2026
NexGen Energy has reported an increase in CHESS Depository Interests on issue for June 2026, with CDIs over quoted securities rising to 137,685,294 from 133,999,749, reflecting net transfers between CDIs and common stock listed on the Toronto and ...
NexGen Shareholders Back Board Slate and Rights Plan at Annual Meeting
Jul 1, 2026
NexGen Energy reported the results of its annual general and special meeting, where shareholders cast votes representing about 69% of outstanding shares and approved all key resolutions, including appointing PWC LLP as auditor, setting the board s...
NexGen Energy Updates ASX CDI and Equity Structure for May 2026
Jun 2, 2026
NexGen Energy (Canada) Ltd., an energy and resources company listed on the ASX, TSX and NYSE, maintains a capital structure comprising CHESS Depositary Interests, common shares, options and convertible debentures. Its multi-listed status enables t...
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.