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

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

A number of equities analysts recently issued reports on NXE shares. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. UBS Group started coverage on NexGen Energy in a research note on Thursday, March 5th. They issued a “buy” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd.

NexGen Energy Price Performance

NYSE NXE opened at $9.39 on Wednesday. The stock’s fifty day moving average price is $11.18 and its 200 day moving average price is $11.33. NexGen Energy has a 1 year low of $6.26 and a 1 year high of $13.96. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -19.15 and a beta of 1.35.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC raised its stake in NexGen Energy by 31.5% in the 1st quarter. Rathbones Group PLC now owns 43,571 shares of the company’s stock worth $505,000 after acquiring an additional 10,440 shares during the last quarter. Janus Henderson Group PLC raised its stake in NexGen Energy by 107.0% in the 1st quarter. Janus Henderson Group PLC now owns 799,183 shares of the company’s stock worth $9,248,000 after acquiring an additional 413,061 shares during the last quarter. Altshuler Shaham Ltd lifted its position in NexGen Energy by 13.7% during the first quarter. Altshuler Shaham Ltd now owns 55,764 shares of the company’s stock valued at $647,000 after purchasing an additional 6,733 shares during the period. Guardian Partners Inc. acquired a new position in NexGen Energy during the first quarter valued at $1,110,000. Finally, Amundi lifted its position in NexGen Energy by 167.0% during the first quarter. Amundi now owns 2,083,568 shares of the company’s stock valued at $24,169,000 after purchasing an additional 1,303,093 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

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.