12 Best Canadian Stocks With Huge Upside Potential

Page 3 of 11

9. NexGen Energy Ltd. (NYSE:NXE)

Number of Hedge Fund Holders: 33

Average Upside Potential as of June 20: 37.55%

NexGen Energy Ltd. (NYSE:NXE) is one of the best Canadian stocks with huge upside potential. On June 12, NexGen Energy announced that the Saskatchewan Ministry of Environment has approved for its 2025 Site Program at the company’s 100%-owned Rook I Property in the Athabasca Basin, Saskatchewan. The program is set to commence in the coming weeks and conclude with camp commissioning in Q1 2026. It includes significant infrastructure enhancements.

The 2025 Site Program involves 3 main components: the establishment of a temporary gravel exploration airstrip of less than 1,000 meters long for worker health & safety, increased regional exploration, and improved emergency response. Secondly, the exploration accommodation camp facilities will be expanded by 373 beds through the engineering, procurement, and installation of hard-walled modular facilities. Lastly, improvements will be made to the 13 km Rook I access road to boost overall worker and equipment safety.

These infrastructure upgrades are crucial for supporting NexGen’s ongoing exploration programs, particularly at the Patterson Corridor East/PCE discovery, which is rapidly expanding. Located just 3.5 km east of the world-class Arrow Deposit, drill results from PCE have revealed high-grade basement-hosted mineralization, which shows the potential for another Arrow-style zone of mineralization. The company’s 2025 drilling program for PCE is preparing to recommence in June 2025.

NexGen Energy Ltd. (NYSE:NXE) is an exploration and development stage company that acquires, explores, evaluates, and develops uranium properties in Canada. It holds a 100% interest in the Rook I project.

Page 3 of 11