NexGen Energy Ltd. (NYSE:NXE) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of NexGen Energy Ltd. (NYSE:NXE) have been assigned an average rating of “Strong Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company.

A number of research analysts recently commented on the company. Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Stifel Nicolaus initiated coverage on NexGen Energy in a research report on Wednesday, March 12th. They issued a “buy” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Finally, Raymond James restated an “outperform” rating on shares of NexGen Energy in a research report on Friday, April 4th.

NexGen Energy Stock Performance

NYSE:NXE opened at $6.26 on Tuesday. NexGen Energy has a 52-week low of $3.91 and a 52-week high of $8.96. The company has a market cap of $3.57 billion, a P/E ratio of 41.74 and a beta of 1.50. The stock’s 50-day simple moving average is $5.02 and its 200 day simple moving average is $6.14.

NexGen Energy (NYSE:NXE) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). As a group, equities analysts predict that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Azarias Capital Management L.P. boosted its holdings in shares of NexGen Energy by 15.3% in the 4th quarter. Azarias Capital Management L.P. now owns 2,038,627 shares of the company’s stock worth $13,455,000 after buying an additional 271,153 shares during the last quarter. Bank of America Corp DE boosted its holdings in NexGen Energy by 16.9% in the 4th quarter. Bank of America Corp DE now owns 1,995,608 shares of the company’s stock valued at $13,171,000 after purchasing an additional 288,102 shares during the period. Van ECK Associates Corp grew its position in NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after buying an additional 3,762,756 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of NexGen Energy by 2.6% during the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock worth $690,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in NexGen Energy in the fourth quarter worth $2,487,000. 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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.