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
$10.91 |
Change
-0.250(2.24%) |
Mkt cap ! $834.2M |
Open | High | Low | Value | Volume |
$10.97 | $10.97 | $10.86 | $1.783M | 163.3K |
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9 | 8302 | $10.90 |
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$10.91 | 541 | 4 |
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10 | 8889 | 10.900 |
7 | 1602 | 10.890 |
9 | 5942 | 10.880 |
4 | 866 | 10.870 |
3 | 741 | 10.860 |
Price($) | Vol. | No. |
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10.920 | 1306 | 8 |
10.930 | 1287 | 6 |
10.940 | 3238 | 8 |
10.950 | 1066 | 8 |
10.960 | 2535 | 8 |
Last trade - 12.36pm 06/06/2024 (20 minute delay) ? |
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Open | High | Low | Volume | ||
$10.92 | $10.96 | $10.87 | 40029 | ||
Last updated 12.54pm 06/06/2024 ? |
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