Petra Capital Remains a Buy on NexGen Energy (NXE), Sets a A$10.80 PT

NexGen Energy Ltd. (NYSE:NXE) is one of the best strong buy stocks to buy under $10. In a report released on June 12, Colin McLelland from Petra Capital maintained a Buy rating on NexGen Energy Ltd. (NYSE:NXE) with a price target of A$10.80.

Is NexGen Energy Ltd. (NXE) the Best Canadian Penny Stock to Invest in Now?

A miner in a hard hat and apron holding a piece of uranium ore in the Athabasca Basin, Saskatchewan.

In other news, NexGen Energy Ltd. (NYSE:NXE) announced on June 12 that the Saskatchewan Ministry of Environment granted approval for NexGen Energy Ltd.’s (NYSE:NXE) 2025 Site Program at its 100%-owned Rook I Property in the Athabasca Basin, Saskatchewan.

Management reported that the program entails the establishment of a temporary exploration airstrip, site access road improvements, and an expansion of the exploration accommodation camp facilities by 373 beds. The program is set to conclude with camp commissioning in Q1 2026.

NexGen Energy Ltd. (NYSE:NXE) acquires, explores, and develops uranium properties. Headquartered in Vancouver, Canada, the company’s uranium project portfolio encompasses Arrow, South Arrow, Harpoon, Bow, IsoEnergy, SW1, SW2, SW3, and IsoEnergy properties.

While we acknowledge the potential of NXE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NXE and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.