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

Shares of NexGen Energy (NYSE:NXE) have received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company.

A number of analysts recently issued reports on the company. Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, April 4th. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus began coverage on NexGen Energy in a research report on Wednesday, March 12th. They set a “buy” rating on the stock. Finally, Desjardins began coverage on NexGen Energy in a research report on Tuesday, June 10th. They set a “buy” rating on the stock.

Hedge Funds Weigh In On NexGen Energy

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after purchasing an additional 3,700 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of NexGen Energy in the fourth quarter valued at approximately $51,000. Compound Planning Inc. acquired a new position in shares of NexGen Energy in the first quarter valued at approximately $46,000. Mariner LLC acquired a new position in shares of NexGen Energy in the fourth quarter valued at approximately $68,000. Finally, PenderFund Capital Management Ltd. grew its position in shares of NexGen Energy by 45.0% in the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock valued at $52,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $6.65 on Friday. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of -41.56 and a beta of 1.54. The stock’s 50-day moving average is $5.88 and its 200-day moving average is $5.93. NexGen Energy has a one year low of $3.91 and a one year high of $8.96.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). On average, equities analysts expect that NexGen Energy will post -0.05 EPS for the current year.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.