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

Shares of NexGen Energy (NYSE:NXE) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company.

A number of research analysts recently weighed in on NXE shares. Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th.

Hedge Funds Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthspire Retirement LLC bought a new stake in shares of NexGen Energy during the fourth quarter worth $143,000. Mackenzie Financial Corp increased its stake in shares of NexGen Energy by 87.4% in the fourth quarter. Mackenzie Financial Corp now owns 554,087 shares of the company’s stock valued at $5,039,000 after buying an additional 258,415 shares during the period. Regal Partners Ltd raised its holdings in NexGen Energy by 412.5% during the 4th quarter. Regal Partners Ltd now owns 205,000 shares of the company’s stock worth $1,886,000 after purchasing an additional 165,000 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in NexGen Energy by 5.2% in the fourth quarter. NewEdge Advisors LLC now owns 176,900 shares of the company’s stock valued at $1,627,000 after buying an additional 8,693 shares during the period. Finally, Wellington Management Group LLP grew its stake in NexGen Energy by 165.8% during the fourth quarter. Wellington Management Group LLP now owns 1,691,552 shares of the company’s stock worth $15,566,000 after purchasing an additional 1,055,076 shares during the period. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Price Performance

NXE opened at $12.80 on Thursday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -31.21 and a beta of 1.44. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $13.96. The business’s 50-day moving average price is $11.28 and its two-hundred day moving average price is $9.39.

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.