NexGen Energy (NYSE:NXE) Raised to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of NexGen Energy (NYSE:NXE) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Other analysts have also issued research reports about the company. Haywood Securities upgraded NexGen Energy to a strong-buy rating in a report on Friday, May 17th. Ventum Cap Mkts upgraded NexGen Energy to a strong-buy rating in a report on Monday, July 8th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, NexGen Energy has an average rating of Strong Buy and a consensus target price of $11.00.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $5.44 on Tuesday. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -543.50 and a beta of 1.91. The stock’s 50-day moving average is $6.31 and its 200-day moving average is $7.14. NexGen Energy has a one year low of $4.95 and a one year high of $8.88.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. During the same period in the prior year, the business earned ($0.03) earnings per share. On average, equities analysts expect that NexGen Energy will post -0.09 EPS for the current year.

Institutional Trading of NexGen Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. L1 Capital Pty Ltd raised its stake in NexGen Energy by 6.3% in the first quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock valued at $187,127,000 after buying an additional 1,423,317 shares during the period. Vanguard Group Inc. raised its stake in NexGen Energy by 5,020.5% in the first quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock valued at $126,047,000 after buying an additional 15,905,444 shares during the period. MMCAP International Inc. SPC grew its position in shares of NexGen Energy by 1,627.2% in the first quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock valued at $27,697,000 after purchasing an additional 3,358,278 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of NexGen Energy by 74.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company’s stock valued at $23,393,000 after purchasing an additional 1,430,709 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of NexGen Energy by 69.3% in the second quarter. Van ECK Associates Corp now owns 3,135,565 shares of the company’s stock valued at $21,880,000 after purchasing an additional 1,283,210 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.