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

NexGen Energy (NYSE:NXE) has received an average rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company.

A number of analysts recently issued reports on NXE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research report on Tuesday, June 2nd. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NXE. Leonteq Securities AG grew its position in NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after acquiring an additional 1,098 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of NexGen Energy by 454.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares in the last quarter. Tcfg Wealth Management LLC acquired a new position in shares of NexGen Energy during the first quarter worth $116,000. Jump Financial LLC purchased a new position in shares of NexGen Energy in the fourth quarter valued at $93,000. Finally, First Trust Advisors LP purchased a new position in shares of NexGen Energy in the third quarter valued at $94,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

NexGen Energy stock opened at $9.31 on Friday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of -19.01 and a beta of 1.39. NexGen Energy has a 12 month low of $6.26 and a 12 month high of $13.96. The stock’s 50-day moving average is $9.97 and its 200-day moving average is $11.29.

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.