Is NexGen Energy (NXE) One Of The Best Nuclear Energy Stocks To Buy As SMRs Go Mainstream?

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With an upside potential of 55.9%, NexGen Energy Ltd. (NYSE:NXE) earns a spot on our list of the best nuclear energy stocks to buy as SMRs go mainstream.

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On May 9, 2026, Scotiabank raised its price target on NexGen Energy Ltd. (NYSE:NXE) to CAD $22 from CAD $18, keeping an Outperform rating following Q1 2026 results, announced three days earlier.

For the quarter, NexGen Energy Ltd. (NYSE:NXE) posted a net loss of CAD $156 million (CAD $0.24 loss per share from continuing operations), compared to a CAD $50.9 million loss (CAD $0.09 per share) a year earlier. The net loss widened, reflecting the accelerating pace of investment in the Rook I Project, which is preparing to enter major construction this summer. Negative earnings are also attributable to the pre-production stage of the company.

With shares up 33% year-to-date, investor sentiment is largely driven by that construction catalyst and the ongoing exploration advancements.

On May 7, 2026, NexGen Energy Ltd. (NYSE:NXE) released the final batch of 2025 assay results from the Patterson Corridor East (PCE) discovery, located 3.5 km from the Arrow Deposit, and the intercepts were encouraging. One drill hole, named RK-25-239, found a 13-meter section containing an average uranium grade of 5.2% U₃O₈ (uranium oxide), while RK-25-240 hit 10.0 m at 3.95% U₃O₈, including 0.5 m at 33.3%. Taken together, these drilling results show uranium mineralization extending for 292 meters down the deposit’s slope underground.

Additionally, the program discovered a new area containing strong uranium mineralization at a depth of 850 meters through drill hole RK-25-257. The drill found a 4.5-meter interval with an average grade of 4.8% uranium oxide (U₃O₈), and within that, a very rich 0.5-meter section containing 33.3% U₃O₈. The smaller, distinct high-grade section was found open in most directions, meaning more uranium could still be found nearby.

The 2026 drilling program, which will involve drilling a total of 42,000 meters, is scheduled to restart during the week of May 25, 2026.

NexGen Energy Ltd. (NYSE:NXE) is a Canadian uranium developer focused on the Rook I Project in Saskatchewan, a 100%-owned development-stage asset that hosts the Arrow deposit. The company is also listed on the TSX under NXE and on the ASX under NXG.

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