10 Best Canadian Stocks to Buy Under $10

3. NexGen Energy Ltd. (NYSE:NXE)

Number of Hedge Funds Holders: 32

Share Price as of November 27: $8.31

NexGen Energy Ltd. (NYSE:NXE) is a uranium development company with a focus on delivering clean energy fuel for the future. The company is engaged in the acquisition, exploration and evaluation, and development of uranium properties in Canada. The company is mainly focused on its flagship project, the Rook I, located in Southwestern Saskatchewan, which is also the largest development-stage uranium project in Canada. NexGen Energy Ltd. (NYSE:NXE) fully owns the Rook I property, which is known as the largest low-cost uranium mine globally.

On November 19, NexGen Energy Ltd. (NYSE:NXE) announced the final approval of a federal technical review for its Rook I Uranium Project. This is a significant development for the company as it brings it a step closer to obtaining the necessary permissions to proceed. This will not only assist the company in the coming years but also re-establish Canada’s path to becoming a leader in global uranium supply and partner of choice.

Furthermore, the company has completed its 2024 drilling campaign on Rook I at Patterson Corridor East (PCE). The program at PCE has confirmed a high-grade subdomain within the mineralized zone, expanding NexGen’s exploration portfolio. The company expects further drilling and assays during Q4 2024 and Q1 2025.