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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$9.50 |
Change
0.030(0.32%) |
Mkt cap ! $760.0M |
Open | High | Low | Value | Volume |
$9.29 | $9.50 | $9.28 | $2.827M | 299.0K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 953 | $9.39 |
Sellers (Offers)
Price($) | Vol. | No. |
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$9.50 | 19994 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 953 | 9.390 |
2 | 896 | 9.370 |
1 | 53 | 9.300 |
1 | 1084 | 9.250 |
1 | 1274 | 9.180 |
Price($) | Vol. | No. |
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9.500 | 19994 | 1 |
9.510 | 953 | 1 |
9.910 | 1904 | 1 |
10.050 | 10000 | 1 |
10.580 | 3800 | 1 |
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