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

Shares of NexGen Energy (NYSE:NXE) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company.

NXE has been the topic of several research analyst reports. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd. Finally, UBS Group began coverage on shares of NexGen Energy in a research report on Thursday, March 5th. They set a “buy” rating for the company.

Hedge Funds Weigh In On NexGen Energy

A number of large investors have recently added to or reduced their stakes in NXE. New Harbor Financial Group LLC lifted its holdings in shares of NexGen Energy by 4.3% in the fourth quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock valued at $225,000 after purchasing an additional 1,000 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of NexGen Energy by 1.3% during the fourth quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after buying an additional 1,093 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of NexGen Energy by 1.4% during the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock worth $893,000 after buying an additional 1,772 shares in the last quarter. Tidal Investments LLC raised its position in NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after buying an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in NexGen Energy by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after buying an additional 1,904 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $11.72 on Monday. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $13.96. The business has a 50-day moving average of $12.17 and a two-hundred day moving average of $10.09. The company has a market capitalization of $7.75 billion, a P/E ratio of -30.84 and a beta of 1.41.

NexGen Energy (NYSE:NXE) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, equities analysts anticipate that NexGen Energy will post -0.05 EPS 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.