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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Last
$12.30 |
Change
0.230(1.91%) |
Mkt cap ! $868.8M |
Open | High | Low | Value | Volume |
$12.22 | $12.39 | $12.22 | $2.317M | 188.3K |
Buyers (Bids)
No. | Vol. | Price($) |
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13 | 2552 | $12.28 |
Sellers (Offers)
Price($) | Vol. | No. |
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$12.30 | 767 | 3 |
View Market Depth
No. | Vol. | Price($) |
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14 | 2070 | 12.280 |
4 | 759 | 12.270 |
6 | 784 | 12.260 |
6 | 2858 | 12.250 |
5 | 1157 | 12.240 |
Price($) | Vol. | No. |
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12.300 | 940 | 3 |
12.310 | 808 | 4 |
12.320 | 1108 | 4 |
12.330 | 6883 | 6 |
12.340 | 508 | 3 |
Last trade - 14.11pm 21/05/2024 (20 minute delay) ? |
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Last
$12.29 |
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Change
0.230 ( 1.47 %) |
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Open | High | Low | Volume | ||
$12.31 | $12.38 | $12.25 | 29055 | ||
Last updated 14.22pm 21/05/2024 ? |
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