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

NexGen Energy (NYSE:NXE) has earned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company.

A number of research firms have recently issued reports on NXE. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. UBS Group began coverage on NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday.

Institutional Investors Weigh In On NexGen Energy

A number of large investors have recently modified their holdings of NXE. Norges Bank acquired a new stake in shares of NexGen Energy in the fourth quarter valued at about $72,303,000. CIBC Asset Management Inc grew its stake in NexGen Energy by 341.9% during the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock valued at $81,312,000 after purchasing an additional 6,825,731 shares in the last quarter. Van ECK Associates Corp grew its stake in NexGen Energy by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock valued at $268,240,000 after purchasing an additional 5,523,932 shares in the last quarter. Millennium Management LLC grew its stake in NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock valued at $226,901,000 after purchasing an additional 3,304,071 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Stock Performance

NXE stock opened at $10.29 on Friday. NexGen Energy has a 1 year low of $6.20 and a 1 year high of $13.96. The firm has a market cap of $6.81 billion, a P/E ratio of -20.99 and a beta of 1.35. The stock has a 50-day simple moving average of $11.72 and a 200-day simple moving average of $11.15.

NexGen Energy (NYSE:NXE) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, equities research analysts predict that NexGen Energy will post -0.22 EPS for the current year.

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.