NexGen Energy (NYSE:NXE) Given Consensus Rating of “Moderate Buy” by Analysts

NexGen Energy (NYSE:NXE) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company.

Several research analysts have recently issued reports on NXE shares. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research report on Thursday, January 22nd. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Finally, UBS Group initiated coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in NexGen Energy by 2.1% during the third quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock worth $191,180,000 after acquiring an additional 430,005 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in NexGen Energy by 203.9% during the third quarter. CIBC Asset Management Inc now owns 1,996,124 shares of the company’s stock worth $17,877,000 after acquiring an additional 1,339,326 shares in the last quarter. AGF Management Ltd. bought a new position in NexGen Energy in the third quarter valued at approximately $6,344,000. Y Intercept Hong Kong Ltd lifted its stake in NexGen Energy by 20.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 703,500 shares of the company’s stock valued at $6,296,000 after buying an additional 121,711 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in NexGen Energy by 4.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock valued at $274,103,000 after buying an additional 1,189,516 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Down 6.0%

Shares of NYSE NXE opened at $11.25 on Tuesday. The firm has a market capitalization of $7.44 billion, a PE ratio of -22.97 and a beta of 1.39. NexGen Energy has a 1 year low of $5.29 and a 1 year high of $13.96. The firm’s 50-day moving average is $12.00 and its 200-day moving average is $10.91.

NexGen Energy (NYSE:NXE) last posted 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, equities research analysts anticipate that NexGen Energy will post -0.2 earnings per share for the current fiscal 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.