NexGen Energy (NXE)
Market Price (10/31/2026): $8.28 | Market Cap: $5.6 BilSector: Energy | Industry: Coal & Consumable Fuels
NexGen Energy (NXE)
Market Price (10/31/2026): $8.28Market Cap: $5.6 BilSector: EnergyIndustry: Coal & Consumable Fuels
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization. Themes include Nuclear Fuel Supply, and Nuclear Power Generation. | Weak multi-year price returns2Y Excs Rtn is -24%, 3Y Excs Rtn is -45% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -110 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.8% Key risksNXE key risks include [1] potential delays, Show more. |
| Megatrend and thematic driversMegatrends include Energy Transition & Decarbonization. Themes include Nuclear Fuel Supply, and Nuclear Power Generation. |
| Weak multi-year price returns2Y Excs Rtn is -24%, 3Y Excs Rtn is -45% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -110 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -8.8% |
| Key risksNXE key risks include [1] potential delays, Show more. |
Qualitative Assessment
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Updated on 10/30/2026
NexGen Energy (NXE) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Broader Uranium Mining Sector Weakness Despite Strong Commodity Prices.
While the long-term uranium price indicator remained at a historical high of US$97.00 per pound of uranium oxide (U3O8) from June through September 2026, and the spot price rose to US$89.63/lb by September 30, 2026, broader uranium mining shares experienced significant declines. For instance, the VettaFi Global Uranium Mining Index dropped 16% and the Nasdaq Sprott Junior Uranium Miners Index lost 22% in September 2026 alone. This decoupling suggests that broader financial market pressures, such as tighter liquidity, have overshadowed the positive fundamental outlook for uranium, impacting the valuation of development-stage companies like NexGen Energy.
2. Rook I Project Financing Uncertainty Amidst Rising Construction Costs.
NexGen Energy (whose fiscal year ends December 31) commenced construction on its flagship Rook I project in June 2026, with estimated cash expenditures of C$155.110 million for the first half of 2026. However, the company's cash and short-term investments of C$970.253 million as of June 30, 2026, are not sufficient to fully fund the project's development. The ongoing need for substantial capital to advance the project and the absence of a complete financing package introduce uncertainty regarding potential future equity dilution or the terms of alternative financing, which has likely contributed to downward pressure on the stock.
Show more
NexGen Energy (NXE) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Broader Uranium Mining Sector Weakness Despite Strong Commodity Prices.
While the long-term uranium price indicator remained at a historical high of US$97.00 per pound of uranium oxide (U3O8) from June through September 2026, and the spot price rose to US$89.63/lb by September 30, 2026, broader uranium mining shares experienced significant declines. For instance, the VettaFi Global Uranium Mining Index dropped 16% and the Nasdaq Sprott Junior Uranium Miners Index lost 22% in September 2026 alone. This decoupling suggests that broader financial market pressures, such as tighter liquidity, have overshadowed the positive fundamental outlook for uranium, impacting the valuation of development-stage companies like NexGen Energy.
2. Rook I Project Financing Uncertainty Amidst Rising Construction Costs.
NexGen Energy (whose fiscal year ends December 31) commenced construction on its flagship Rook I project in June 2026, with estimated cash expenditures of C$155.110 million for the first half of 2026. However, the company's cash and short-term investments of C$970.253 million as of June 30, 2026, are not sufficient to fully fund the project's development. The ongoing need for substantial capital to advance the project and the absence of a complete financing package introduce uncertainty regarding potential future equity dilution or the terms of alternative financing, which has likely contributed to downward pressure on the stock.
Show more
Updated on 10/30/2026
NexGen Energy (NXE) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Broader Uranium Mining Sector Weakness Despite Strong Commodity Prices.
While the long-term uranium price indicator remained at a historical high of US$97.00 per pound of uranium oxide (U3O8) from June through September 2026, and the spot price rose to US$89.63/lb by September 30, 2026, broader uranium mining shares experienced significant declines. For instance, the VettaFi Global Uranium Mining Index dropped 16% and the Nasdaq Sprott Junior Uranium Miners Index lost 22% in September 2026 alone. This decoupling suggests that broader financial market pressures, such as tighter liquidity, have overshadowed the positive fundamental outlook for uranium, impacting the valuation of development-stage companies like NexGen Energy.
2. Rook I Project Financing Uncertainty Amidst Rising Construction Costs.
NexGen Energy (whose fiscal year ends December 31) commenced construction on its flagship Rook I project in June 2026, with estimated cash expenditures of C$155.110 million for the first half of 2026. However, the company's cash and short-term investments of C$970.253 million as of June 30, 2026, are not sufficient to fully fund the project's development. The ongoing need for substantial capital to advance the project and the absence of a complete financing package introduce uncertainty regarding potential future equity dilution or the terms of alternative financing, which has likely contributed to downward pressure on the stock.
3. Negative Analyst Sentiment and Anticipation of Q3 2026 Loss.
The stock faced negative sentiment from some analysts during the period, including Wall Street Zen upgrading its rating to "sell" from "strong sell" on October 25, 2026, and Weiss Ratings reiterating a "sell" on August 28, 2026. This coincided with the lead-up to NexGen's estimated Q3 2026 earnings report on November 3, 2026, for which analysts anticipate a net loss of -$0.03 per share. The continued expectation of losses for a pre-revenue development company, coupled with cautious analyst views, likely weighed on investor confidence.
Show less
NexGen Energy (NXE) stock has lost about 10% since 6/30/2026 because of the following key factors:
1. Broader Uranium Mining Sector Weakness Despite Strong Commodity Prices.
While the long-term uranium price indicator remained at a historical high of US$97.00 per pound of uranium oxide (U3O8) from June through September 2026, and the spot price rose to US$89.63/lb by September 30, 2026, broader uranium mining shares experienced significant declines. For instance, the VettaFi Global Uranium Mining Index dropped 16% and the Nasdaq Sprott Junior Uranium Miners Index lost 22% in September 2026 alone. This decoupling suggests that broader financial market pressures, such as tighter liquidity, have overshadowed the positive fundamental outlook for uranium, impacting the valuation of development-stage companies like NexGen Energy.
2. Rook I Project Financing Uncertainty Amidst Rising Construction Costs.
NexGen Energy (whose fiscal year ends December 31) commenced construction on its flagship Rook I project in June 2026, with estimated cash expenditures of C$155.110 million for the first half of 2026. However, the company's cash and short-term investments of C$970.253 million as of June 30, 2026, are not sufficient to fully fund the project's development. The ongoing need for substantial capital to advance the project and the absence of a complete financing package introduce uncertainty regarding potential future equity dilution or the terms of alternative financing, which has likely contributed to downward pressure on the stock.
3. Negative Analyst Sentiment and Anticipation of Q3 2026 Loss.
The stock faced negative sentiment from some analysts during the period, including Wall Street Zen upgrading its rating to "sell" from "strong sell" on October 25, 2026, and Weiss Ratings reiterating a "sell" on August 28, 2026. This coincided with the lead-up to NexGen's estimated Q3 2026 earnings report on November 3, 2026, for which analysts anticipate a net loss of -$0.03 per share. The continued expectation of losses for a pre-revenue development company, coupled with cautious analyst views, likely weighed on investor confidence.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -11.9% change in NXE stock from 6/30/2026 to 10/30/2026 was primarily driven by a -0.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.39 | 8.27 | -11.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 661 | 666 | -0.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| NXE | -11.9% | |
| Market (SPY) | 1.2% | 59.8% |
| Sector (XLE) | 31.8% | -39.2% |
Fundamental Drivers
The -28.7% change in NXE stock from 3/31/2026 to 10/30/2026 was primarily driven by a -3.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.60 | 8.27 | -28.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 640 | 666 | -3.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 10/30/2026| Return | Correlation | |
|---|---|---|
| NXE | -28.7% | |
| Market (SPY) | 16.5% | 59.6% |
| Sector (XLE) | 15.1% | -29.0% |
Fundamental Drivers
The -7.6% change in NXE stock from 9/30/2025 to 10/30/2026 was primarily driven by a -14.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302025 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.95 | 8.27 | -7.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 570 | 666 | -14.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
9/30/2025 to 10/30/2026| Return | Correlation | |
|---|---|---|
| NXE | -7.6% | |
| Market (SPY) | 14.4% | 50.8% |
| Sector (XLE) | 60.3% | -9.7% |
Fundamental Drivers
The 38.5% change in NXE stock from 9/30/2023 to 10/30/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10302026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.97 | 8.27 | 38.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 487 | 666 | -26.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
9/30/2023 to 10/30/2026| Return | Correlation | |
|---|---|---|
| NXE | 38.5% | |
| Market (SPY) | 82.9% | 44.3% |
| Sector (XLE) | 69.3% | 14.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NXE Return | 58% | 1% | 58% | -6% | 39% | -10% | 200% |
| Peers Return | 216% | 109% | 40% | 5% | 97% | -28% | 1295% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| NXE Win Rate | 75% | 50% | 75% | 50% | 58% | 40% | |
| Peers Win Rate | 64% | 50% | 58% | 44% | 61% | 37% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NXE Max Drawdown | -37% | -45% | -28% | -40% | -46% | -42% | |
| Peers Max Drawdown | -47% | -44% | -35% | -33% | -49% | -50% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CNR, BTU, LEU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)
How Low Can It Go
| Event | NXE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.4% | -18.8% |
| % Gain to Breakeven | 45.8% | 23.1% |
| Time to Breakeven | 45 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -27.9% | -7.8% |
| % Gain to Breakeven | 38.7% | 8.5% |
| Time to Breakeven | 70 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.8% | -6.7% |
| % Gain to Breakeven | 31.2% | 7.1% |
| Time to Breakeven | 49 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.6% | -24.5% |
| % Gain to Breakeven | 36.3% | 32.4% |
| Time to Breakeven | 206 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 101.8% | 50.9% |
| Time to Breakeven | 25 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.1% | -19.2% |
| % Gain to Breakeven | 45.2% | 23.8% |
| Time to Breakeven | 714 days | 105 days |
In The Past
NexGen Energy's stock fell -31.4% during the 2025 US Tariff Shock. Such a loss loss requires a 45.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | NXE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -31.4% | -18.8% |
| % Gain to Breakeven | 45.8% | 23.1% |
| Time to Breakeven | 45 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -27.9% | -7.8% |
| % Gain to Breakeven | 38.7% | 8.5% |
| Time to Breakeven | 70 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.8% | -6.7% |
| % Gain to Breakeven | 31.2% | 7.1% |
| Time to Breakeven | 49 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -26.6% | -24.5% |
| % Gain to Breakeven | 36.3% | 32.4% |
| Time to Breakeven | 206 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 101.8% | 50.9% |
| Time to Breakeven | 25 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -31.1% | -19.2% |
| % Gain to Breakeven | 45.2% | 23.8% |
| Time to Breakeven | 714 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -24.2% | -0.2% |
| % Gain to Breakeven | 32.0% | 0.2% |
| Time to Breakeven | 1261 days | 1 days |
In The Past
NexGen Energy's stock fell -31.4% during the 2025 US Tariff Shock. Such a loss loss requires a 45.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About NexGen Energy (NXE)
NexGen Energy Ltd. (NXE) is a Canadian exploration and development company focused on the uranium sector. The company's core business involves the acquisition, evaluation, and advancement of uranium properties, with the ultimate goal of bringing these projects into production. Its primary asset is the Rook I project, a substantial land package comprising 32 contiguous mineral claims totaling 35,065 hectares, located in the geologically significant southwestern Athabasca Basin of Saskatchewan, Canada.
While the company is currently in the development stage, its main "product" will be uranium, a critical fuel source for nuclear power plants globally. NexGen Energy aims to serve the international nuclear energy market, with its primary customers being utility companies and other entities that operate nuclear reactors and require a secure and consistent supply of uranium to generate electricity.
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- Uranium Property Acquisition: Identifying and acquiring mineral claims with potential for uranium deposits.
- Uranium Exploration: Conducting geological surveys and drilling to discover and delineate uranium resources.
- Uranium Property Evaluation: Assessing the technical and economic feasibility of extracting uranium from discovered deposits.
- Uranium Property Development: Advancing discovered uranium resources towards potential future production.
AI Analysis | Feedback
Based on the provided company description, NexGen Energy Ltd. is an "exploration and development stage company." This means the company is currently focused on acquiring, exploring, evaluating, and developing uranium properties, primarily its Rook I project. As such, it is not yet in the production phase and therefore does not have major customers for uranium sales.
Exploration and development stage companies typically do not generate revenue from product sales but rather incur expenses related to advancing their projects. Their funding often comes from equity financing, debt, or strategic partnerships, not from product customers.
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Leigh R. Curyer Chief Executive Officer and Director
Mr. Curyer is the founder, President & Chief Executive Officer of NexGen Energy Ltd.. He has over 20 years of experience in the resources and corporate sector. Prior to founding NexGen, he was the Chief Financial Officer and Head of Corporate Development for Southern Cross Resources (now Uranium One). He also served as Head of Corporate Development for Accord Nuclear Resource Management, where he assessed uranium projects worldwide for First Reserve Corporation, a global energy-focused private equity and infrastructure investment firm. Mr. Curyer has raised over $1 billion in equity in North America, the US, Europe, and Australia.
Benjamin Salter Chief Financial Officer
Mr. Salter is an experienced Chartered Professional Accountant (CPA, CA) with over 15 years of experience in various industries, focusing on the energy and commodities sectors. He previously held the role of NexGen's Vice President, Finance. Before joining NexGen, Mr. Salter held multiple positions at Methanex Corporation, where he managed a team responsible for financial reporting, internal controls, and global budgeting.
Travis G. McPherson Chief Commercial Officer
Mr. McPherson is a Canadian-born entrepreneur with over 15 years of experience in the global natural resources sector. He joined NexGen in early 2014 and has played a key role in the company's growth, including raising $1.5 billion in equity and structuring strategic financings, as well as creating IsoEnergy Ltd. He began his career in investment banking at Haywood Securities Inc. and later moved to the owner's side in gold mining and development in Latin America.
Graeme Johnson Chief Project Officer
Mr. Johnson possesses more than 30 years of international experience in the mining and metals industry across Australia, Africa, and Canada. He is a proven leader with extensive experience in engineering, project management, community relations, and permitting. His career started in a brown coal-fired power station, followed by over a decade with a global smelting technology company before transitioning into leadership roles with major EPCM firms and top mining operators in copper and gold.
Troy Boisjoli Vice President, Operations & Project Development
Mr. Boisjoli holds the position of Vice President, Operations & Project Development at NexGen Energy Ltd..
AI Analysis | Feedback
The key risks to NexGen Energy (NXE) are primarily associated with its status as an exploration and development stage company focused on bringing its principal asset, the Rook I project, into production.
1. Project Execution and Funding Risk
NexGen Energy, being a pre-revenue company, faces substantial risks related to the execution and funding of its Rook I project. The project has a significant pre-production capital cost of C$2.2 billion, and the company has incurred substantial net losses due to aggressive development spending. While NexGen recently secured the final Canadian Nuclear Safety Commission (CNSC) license for construction, initiating in summer 2026, there remains a risk of capital cost overruns, schedule slippage, and the ongoing need for sizeable equity and convertible financings, which could lead to further dilution for existing shareholders.2. Uranium Price Volatility
The economic viability and future profitability of NexGen's Rook I project are highly sensitive to the volatility of uranium prices and foreign exchange rates. Although the uranium market has shown strength, sustained high prices are crucial for the project to deliver its projected returns. Any significant downturn in uranium prices could materially adversely affect the company's financial condition, results of operations, and the valuation of its assets.3. Environmental and Regulatory Compliance Risk
Uranium exploration, development, and mining activities are inherently associated with environmental and health risks, including potential radiological and heavy-metal contamination, as well as exposure to radon gas. NexGen is subject to stringent governmental policies and environmental regulations. Changes to these regulations, or issues related to environmental degradation and compliance, could lead to increased operating costs, project delays, or reputational damage.AI Analysis | Feedback
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NexGen Energy Ltd. (NXE) is an exploration and development stage company primarily focused on uranium properties, with its principal asset being the Rook I project in Saskatchewan, Canada. Therefore, its main product is uranium.
The addressable market for NexGen Energy's main product, uranium, is global. The global uranium market was valued at approximately US$9.30 billion in 2024. This market is projected to grow to approximately US$13.59 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of about 4.86% during the forecast period of 2025-2032. Another estimate places the global uranium market size at USD 15.57 billion in 2024, poised to reach USD 21.78 billion by 2033, with a CAGR of 3.8% from 2026–2033.
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NexGen Energy Ltd. (NXE) is an exploration and development stage company primarily focused on its Rook I uranium project in Canada. As such, the company does not currently generate significant operational revenue. Over the next 2-3 years (2026-2029), its future revenue growth will be driven by key developments related to its flagship project and the broader uranium market.
The expected drivers of future revenue growth for NexGen Energy are:
- Advancement of the Rook I Project Towards Production: NexGen Energy received final federal regulatory approval for its Rook I project in March 2026, with construction slated to commence in the summer of 2026. The project is expected to undergo a four-year construction period, targeting first uranium production around 2030. While direct revenue from uranium sales will occur beyond the immediate 2-3 year horizon, the successful execution of construction milestones, adherence to timelines, and overall de-risking of the project during this phase will significantly enhance the company's future revenue-generating potential and market valuation.
- Favorable Uranium Market Pricing and Demand: The global uranium market is currently experiencing a "long-duration structural bull market" driven by increasing demand for nuclear energy, including from emerging sectors like artificial intelligence (AI) and data centers, coupled with persistent supply constraints. Strong spot and long-term uranium prices are crucial for the economic viability and profitability of future uranium production from the Rook I project. Continued upward trends in uranium prices will positively impact the perceived value of NexGen's future output.
- Securing Long-Term Off-take Agreements: Entering into long-term contracts for uranium supply with utility companies or other end-users would provide revenue certainty for NexGen's future production. Such off-take agreements often involve agreed-upon pricing mechanisms, de-risking future revenue streams and potentially assisting in project financing. NexGen's management has indicated engaging in preliminary discussions regarding securing financing for the new mine, which may involve future off-take opportunities.
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Share Issuance
- NexGen Energy successfully completed an approximately CAD 1 billion equity raise in 2025.
- This included a CAD 950 million capital raise in 2025, with CAD 600 million coming from Australian investors.
- The number of shares outstanding increased from 0.48 billion in 2022 to 0.529 billion in 2023, and further to 0.555 billion in 2024.
Inbound Investments
- A significant portion of the CAD 950 million capital raise in 2025, specifically CAD 600 million, was contributed by Australian investors.
- NexGen Energy's inclusion in the S&P/ASX 200 index on December 22, 2025, boosted market capitalization, liquidity, and Australian institutional ownership.
Capital Expenditures
- The company has a cumulative investment of approximately CAD 786 million in Saskatchewan, primarily for the Rook I project.
- Initial capital expenditure for the Rook I project is estimated at CAD 2.2 billion, with roughly CAD 300 million anticipated in the first 12 months of construction.
- Annual capital expenditures were $95.608 million USD in 2024, an increase of 12.85% from $84.725 million USD in 2023, primarily focused on the Rook I project development.
Peer Outperformance in Coal & Consumable Fuels
NXE has outperformed 54% of its 13 Coal & Consumable Fuels peers over 5Y. Coal & Consumable Fuels ranks 7th of 7 industries in Energy by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Coal & Consumable Fuels constituents that NXE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
71%
of 14 industry peers · -15.4% return
3Y
85%
of 13 industry peers · 36.7% return
5Y
54%
of 13 industry peers · 50.1% return
No Coal & Consumable Fuels peer with a comparable growth profile has beaten NXE by more than 20pp over 5Y.
Median price return by industry across the Energy sector, ranked by 5Y. Coal & Consumable Fuels is NXE's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Oil & Gas Refining & Marketing | 11 | 95.5% | 132.3% | 353.5% | MPC 654% · VLO 503% · PBF 500% |
| Integrated Oil & Gas | 7 | 57.0% | 88.4% | 211.1% | IMO 361% · SU 275% · XOM 246% |
| Oil & Gas Storage & Transportation | 18 | 48.0% | 125.0% | 199.7% | INSW 975% · LPG 874% · TRGP 542% |
| Oil & Gas Drilling | 7 | 77.5% | 22.8% | 96.6% | VAL 199% · NE 130% · RIG 97% |
| Oil & Gas Equipment & Services | 33 | 28.1% | 32.2% | 81.4% | SEI 1004% · FTI 853% · TDW 620% |
| Oil & Gas Exploration & Production | 51 | 51.0% | 14.5% | 60.0% | BTE 1005% · PR 320% · CNQ 238% |
| Coal & Consumable Fuels ← | 14 | -31.6% | 3.7% | 40.4% | CNR 249% · CCJ 221% · UEC 107% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| NXE Stock Surges 17% With A 9-day Winning Spree On TD Price Target Hike | 01/24/2026 | |
| NXE Stock Surges 20% With A 5-day Winning Spree On Uranium Price Breakout | 01/08/2026 | |
| Fundamental Metrics: ... | 06/19/2024 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 54.57 |
| Mkt Cap | 3.5 |
| Rev LTM | 2,242 |
| Op Inc LTM | -52 |
| FCF LTM | -171 |
| FCF 3Y Avg | -3 |
| CFO LTM | 82 |
| CFO 3Y Avg | 222 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.5% |
| Rev Chg 3Y Avg | 13.5% |
| Rev Chg Q | 12.7% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Inc Chg LTM | -80.5% |
| Op Inc Chg 3Y Avg | -42.5% |
| Op Mgn LTM | 0.8% |
| Op Mgn 3Y Avg | 9.3% |
| QoQ Delta Op Mgn LTM | -1.6% |
| CFO/Rev LTM | 5.5% |
| CFO/Rev 3Y Avg | 10.2% |
| FCF/Rev LTM | -4.4% |
| FCF/Rev 3Y Avg | 0.3% |
Price Behavior
Price Behavior
| Market Price | $8.27 | |
| Market Cap ($ Bil) | 5.5 | |
| First Trading Date | 10/31/2013 | |
| Distance from 52W High | -40.6% | |
| 50 Days | 200 Days | |
| DMA Price | $9.42 | $10.76 |
| DMA Trend | down | down |
| Distance from DMA | -12.2% | -23.2% |
| 3M | 1YR | |
| Volatility | 47.9% | 54.7% |
| Downside Capture | 338.34 | 300.55 |
| Upside Capture | 265.62 | 251.66 |
| Correlation (S&P 500) | 55.3% | 55.3% |
NXE Betas & Captures as of 9/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.42 | 2.33 | 2.38 | 2.44 | 2.11 | 1.55 |
| Up Beta | 3.43 | 1.36 | 1.92 | 1.62 | 1.32 | 1.33 |
| Down Beta | 4.98 | 4.76 | 3.27 | 3.06 | 1.92 | 1.49 |
| Up Capture | 150% | 237% | 243% | 231% | 434% | 558% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 9 | 21 | 32 | 61 | 129 | 371 |
| Down Capture | 309% | 249% | 232% | 254% | 168% | 111% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 20 | 31 | 63 | 120 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXE | |
|---|---|---|---|---|
| NXE | -14.5% | 54.7% | -0.09 | - |
| Sector ETF (XLE) | 63.0% | 22.3% | 2.10 | -10.5% |
| Equity (SPY) | 10.9% | 12.8% | 0.52 | 54.9% |
| Gold (GLD) | -2.0% | 28.6% | -0.08 | 54.5% |
| Commodities (DBC) | 48.2% | 20.6% | 1.79 | 2.5% |
| Real Estate (VNQ) | 10.2% | 13.7% | 0.45 | 5.9% |
| Bitcoin (BTCUSD) | -30.3% | 43.5% | -0.71 | 41.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXE | |
|---|---|---|---|---|
| NXE | 6.9% | 56.9% | 0.33 | - |
| Sector ETF (XLE) | 23.4% | 25.5% | 0.80 | 31.8% |
| Equity (SPY) | 12.2% | 17.1% | 0.53 | 49.5% |
| Gold (GLD) | 16.2% | 19.0% | 0.68 | 32.5% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | 25.0% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 27.4% |
| Bitcoin (BTCUSD) | 4.8% | 51.6% | 0.28 | 28.1% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NXE | |
|---|---|---|---|---|
| NXE | 13.6% | 61.0% | 0.47 | - |
| Sector ETF (XLE) | 11.5% | 29.6% | 0.42 | 33.8% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 41.3% |
| Gold (GLD) | 11.4% | 16.5% | 0.56 | 23.7% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 27.8% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.21 | 26.9% |
| Bitcoin (BTCUSD) | 61.7% | 66.2% | 1.01 | 17.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 6-K |
| 03/31/2026 | 05/06/2026 | 6-K |
| 12/31/2025 | 03/04/2026 | 40-F |
| 09/30/2025 | 11/06/2025 | 6-K |
| 06/30/2025 | 08/06/2025 | 6-K |
| 03/31/2025 | 05/13/2025 | 6-K |
| 12/31/2024 | 03/04/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/07/2024 | 6-K |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 03/07/2024 | 40-F |
| 09/30/2023 | 11/03/2023 | 6-K |
| 06/30/2023 | 08/09/2023 | 6-K |
| 03/31/2023 | 05/04/2023 | 6-K |
| 12/31/2022 | 02/24/2023 | 40-F |
| 09/30/2022 | 11/04/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 6-K |
| 03/31/2026 | 05/06/2026 | 6-K |
| 12/31/2025 | 03/04/2026 | 40-F |
| 09/30/2025 | 11/06/2025 | 6-K |
| 06/30/2025 | 08/06/2025 | 6-K |
| 03/31/2025 | 05/13/2025 | 6-K |
| 12/31/2024 | 03/04/2025 | 40-F |
| 09/30/2024 | 11/08/2024 | 6-K |
| 06/30/2024 | 08/07/2024 | 6-K |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 03/07/2024 | 40-F |
| 09/30/2023 | 11/03/2023 | 6-K |
| 06/30/2023 | 08/09/2023 | 6-K |
| 03/31/2023 | 05/04/2023 | 6-K |
| 12/31/2022 | 02/24/2023 | 40-F |
| 09/30/2022 | 11/04/2022 | 6-K |
| 06/30/2022 | 08/05/2022 | 6-K |
| 03/31/2022 | 05/05/2022 | 6-K |
| 12/31/2021 | 02/25/2022 | 40-F |
| 09/30/2021 | 11/05/2021 | 6-K |
| 06/30/2021 | 08/11/2021 | 6-K |
| 03/31/2021 | 05/07/2021 | 6-K |
| 12/31/2020 | 03/19/2021 | 40-F |
| 09/30/2020 | 11/12/2020 | 6-K |
| 06/30/2020 | 08/13/2020 | 6-K |
| 03/31/2020 | 05/08/2020 | 6-K |
| 12/31/2019 | 03/12/2020 | 40-F |
| 09/30/2019 | 10/29/2019 | 6-K |
Investor Activity (13F)
Updated Oct 31, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| L1 Capital Pty Ltd | $408.3 Mil | 16.0% | 22 | Hold | 13F |
| Nokomis Capital, L.L.C. | $15.0 Mil | 4.5% | 47 | TRIM -18.9% | 13F |
| Deltroit Asset Management (UK) LLP | $25.9 Mil | 4.5% | 39 | TRIM -30.2% | 13F |
| Hancock Prospecting Pty Ltd | $105.5 Mil | 3.2% | 36 | Hold | 13F |
| Dudley & Shanley, Inc. | $14.2 Mil | 2.3% | 38 | Hold | 13F |
| Drummond Knight Asset Management Pty Ltd | $5.2 Mil | 1.8% | 14 | TRIM -22.7% | 13F |
| Masters Capital Management LLC | $11.6 Mil | 1.7% | 44 | TRIM -50.0% | 13F |
| Goehring & Rozencwajg Associates, LLC | $21.0 Mil | 1.1% | 43 | ADD +19.2% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| L1 Capital Pty Ltd | $408.3 Mil | 16.0% | 22 | Hold | 13F |
| Hancock Prospecting Pty Ltd | $105.5 Mil | 3.2% | 36 | Hold | 13F |
| Deltroit Asset Management (UK) LLP | $25.9 Mil | 4.5% | 39 | TRIM -30.2% | 13F |
| Goehring & Rozencwajg Associates, LLC | $21.0 Mil | 1.1% | 43 | ADD +19.2% | 13F |
| Nokomis Capital, L.L.C. | $15.0 Mil | 4.5% | 47 | TRIM -18.9% | 13F |
| Dudley & Shanley, Inc. | $14.2 Mil | 2.3% | 38 | Hold | 13F |
| Masters Capital Management LLC | $11.6 Mil | 1.7% | 44 | TRIM -50.0% | 13F |
| Drummond Knight Asset Management Pty Ltd | $5.2 Mil | 1.8% | 14 | TRIM -22.7% | 13F |
NexGen Energy — Investor Video Playlist
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