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

NexGen Energy (NYSE:NXE) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company.

Several equities analysts recently issued reports on NXE shares. UBS Group assumed coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th.

NexGen Energy Trading Down 2.2%

Shares of NXE stock opened at $11.14 on Monday. The company has a market capitalization of $7.36 billion, a price-to-earnings ratio of -29.30 and a beta of 1.41. The firm has a 50-day moving average price of $12.15 and a 200 day moving average price of $10.03. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $13.96.

NexGen Energy (NYSE:NXE) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, research analysts predict that NexGen Energy will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NXE. New Harbor Financial Group LLC lifted its holdings in shares of NexGen Energy by 4.3% during the 4th quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock worth $225,000 after acquiring an additional 1,000 shares during the period. Legacy Capital Group California Inc. grew its holdings in NexGen Energy by 1.3% in the fourth quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock valued at $794,000 after purchasing an additional 1,093 shares during the period. Cetera Investment Advisers increased its position in NexGen Energy by 1.4% during the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock worth $893,000 after purchasing an additional 1,772 shares during the last quarter. Tidal Investments LLC increased its position in NexGen Energy by 6.9% during the second quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock worth $194,000 after purchasing an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in NexGen Energy by 5.7% during the second quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock worth $243,000 after purchasing an additional 1,904 shares during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

About NexGen Energy

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.