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

Shares of NexGen Energy (NYSE:NXE) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company.

NXE has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. TD Securities restated a “buy” rating on shares of NexGen Energy in a research note on Friday, August 8th. Zacks Research raised NexGen Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th.

NexGen Energy Price Performance

Shares of NXE stock opened at $7.93 on Tuesday. The firm’s 50-day simple moving average is $8.70 and its 200-day simple moving average is $7.36. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $9.95. The firm has a market cap of $5.19 billion, a P/E ratio of -31.71 and a beta of 1.44.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Analysts expect that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently made changes to their positions in the business. L1 Capital Pty Ltd boosted its position in NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock worth $234,683,000 after purchasing an additional 3,171,558 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NexGen Energy by 4.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock worth $274,103,000 after purchasing an additional 1,189,516 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of NexGen Energy by 28.9% during the third quarter. Van ECK Associates Corp now owns 23,633,124 shares of the company’s stock worth $211,517,000 after purchasing an additional 5,305,263 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of NexGen Energy by 2.1% in the third quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock worth $191,180,000 after buying an additional 430,005 shares during the period. Finally, Millennium Management LLC grew its stake in shares of NexGen Energy by 97.8% in the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock valued at $90,718,000 after buying an additional 5,011,890 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

About NexGen Energy

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.