Some serious trades on both nyse and tsx, 15 million shares trading.. this from eight capital who see thing like I do...
Eight Capital states: NexGen Remains our Top Pick; Takeout Clock Could Start Once NXE is Fully Financed in 2024: 2023 was a banner year for NexGen as it secured its provincial EA approval, showed investors are ready to finance the project before full permit receipts through raising US$110M in debentures, and noted that it had US$1B (entirety of upfront capex) in interest on the debt side to finance Rook 1. We anticipate that 2024 will also be a milestone-heavy year.
We believe it will get federal approvals sometime in H1/24. Post-federal
approvals, we’d expect NXE to look to secure financing for Rook I. A fully
financed NXE may be the M&A trigger for an existing producer and we expect the stock to benefit from this speculation in 2024. It makes the most logical sense for Cameco to make a bid as it would be even further in control of global supply with the project in its portfolio. Less talked about, however, as a possible takeout candidate is BHP (BHP-A, Not Rated). BHP is familiar with uranium through its Olympic Dam mine (~6% of global supply) in Australia but it’s also recently invested in building out the Jansen potash project in Saskatchewan. The uranium experience and commitment to Saskatchewan show that Rook I could also fit very well inside BHP’s diversified mining portfolio. Whether or not a takeout bid develops, we expect NexGen to continue to run in 2024 as investors look for quality investment choices in the space.
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Some serious trades on both nyse and tsx, 15 million shares...
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Last
$12.94 |
Change
0.630(5.12%) |
Mkt cap ! $645.1M |
Open | High | Low | Value | Volume |
$12.55 | $12.98 | $12.55 | $1.556M | 121.3K |
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2 | 7 | $12.94 |
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$12.95 | 508 | 10 |
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5 | 526 | 12.940 |
6 | 2526 | 12.930 |
5 | 2610 | 12.920 |
6 | 839 | 12.910 |
9 | 1916 | 12.900 |
Price($) | Vol. | No. |
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12.960 | 828 | 10 |
12.970 | 510 | 3 |
12.980 | 1033 | 4 |
12.990 | 420 | 3 |
13.000 | 2920 | 5 |
Last trade - 15.52pm 30/04/2024 (20 minute delay) ? |
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$12.98 |
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$12.67 | $13.00 | $12.64 | 14641 | ||
Last updated 15.59pm 30/04/2024 ? |
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