NexGen Energy (NYSE:NXE) Receives Average Rating of “Moderate Buy” from Analysts

NexGen Energy (NYSE:NXE) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

Several equities research analysts recently weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th.

NexGen Energy Stock Down 5.6%

Shares of NXE stock opened at $12.56 on Friday. The stock’s 50-day moving average price is $10.20 and its 200 day moving average price is $8.76. The stock has a market capitalization of $8.29 billion, a PE ratio of -30.63 and a beta of 1.43. NexGen Energy has a 52-week low of $3.91 and a 52-week high of $13.96.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). Analysts expect that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

Large investors have recently modified their holdings of the business. L1 Capital Pty Ltd lifted its holdings in shares of NexGen Energy by 10.3% in the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after buying an additional 3,171,558 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in NexGen Energy by 4.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock worth $274,103,000 after acquiring an additional 1,189,516 shares in the last quarter. Vanguard Group Inc. lifted its holdings in NexGen Energy by 15.5% in the fourth quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after acquiring an additional 3,304,071 shares during the period. Van ECK Associates Corp lifted its holdings in NexGen Energy by 28.9% in the third quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock valued at $211,517,000 after acquiring an additional 5,305,263 shares during the period. Finally, Millennium Management LLC boosted its position in shares of NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.