NexGen Energy (NYSE:NXE) Given Consensus Recommendation of “Moderate Buy” by Analysts

NexGen Energy (NYSE:NXE) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company.

Several equities research analysts have issued reports on NXE shares. Zacks Research upgraded shares of NexGen Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a research report on Wednesday, October 8th.

NexGen Energy Stock Performance

NYSE NXE opened at $10.92 on Wednesday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $11.09. The stock’s 50 day moving average price is $8.96 and its two-hundred day moving average price is $8.11. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -26.62 and a beta of 1.43.

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

Hedge Funds Weigh In On NexGen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its position in NexGen Energy by 15.3% during the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after acquiring an additional 543,179 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after purchasing an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock valued at $13,412,000 after purchasing an additional 36,510 shares during the period. Caxton Associates LLP bought a new stake in shares of NexGen Energy in the 1st quarter valued at about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NexGen Energy by 13.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock valued at $3,166,000 after purchasing an additional 81,167 shares during the last quarter. 42.43% of the stock is owned by institutional investors.

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.