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

Shares of NexGen Energy (NYSE:NXE) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company.

Several research firms have issued reports on NXE. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, October 10th. Finally, Zacks Research raised NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th.

Institutional Trading of NexGen Energy

A number of institutional investors and hedge funds have recently modified their holdings of NXE. NewGen Equity Long Short Fund acquired a new position in NexGen Energy in the second quarter valued at about $8,328,000. Confluence Investment Management LLC acquired a new stake in shares of NexGen Energy during the second quarter worth approximately $483,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of NexGen Energy by 97.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,728,160 shares of the company’s stock valued at $12,013,000 after acquiring an additional 854,560 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of NexGen Energy in the second quarter valued at approximately $4,038,000. Finally, PCJ Investment Counsel Ltd. boosted its holdings in shares of NexGen Energy by 131.7% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 746,400 shares of the company’s stock worth $5,186,000 after acquiring an additional 424,260 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Up 7.3%

Shares of NYSE NXE opened at $9.12 on Friday. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $9.99. The company has a market cap of $5.98 billion, a P/E ratio of -22.24 and a beta of 1.54. The business’s 50 day moving average is $8.76 and its two-hundred day moving average is $7.84.

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 the consensus estimate of ($0.02) by ($0.01). Sell-side analysts expect that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

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.