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
$9.91 |
Change
-0.170(1.69%) |
Mkt cap ! $759.0M |
Open | High | Low | Value | Volume |
$9.94 | $9.94 | $9.87 | $780.0K | 78.77K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 246 | $9.90 |
Sellers (Offers)
Price($) | Vol. | No. |
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$9.97 | 188 | 2 |
View Market Depth
No. | Vol. | Price($) |
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1 | 246 | 9.900 |
2 | 188 | 9.860 |
1 | 7 | 9.680 |
1 | 1500 | 9.620 |
1 | 1000 | 9.600 |
Price($) | Vol. | No. |
---|---|---|
9.970 | 188 | 2 |
10.020 | 246 | 1 |
10.200 | 4000 | 1 |
10.350 | 1500 | 1 |
10.690 | 600 | 1 |
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