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

NexGen Energy (NYSE:NXE) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company.

A number of brokerages have recently issued reports on NXE. Raymond James Financial restated an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. UBS Group began coverage on shares of NexGen Energy in a research note on Thursday, March 5th. They set a “buy” rating for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a research report on Thursday, January 22nd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NXE. Vanguard Group Inc. raised its position in shares of NexGen Energy by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 21,353,712 shares of the company’s stock worth $191,180,000 after purchasing an additional 430,005 shares during the last quarter. CIBC Asset Management Inc grew its holdings in NexGen Energy by 203.9% during the 3rd quarter. CIBC Asset Management Inc now owns 1,996,124 shares of the company’s stock valued at $17,877,000 after buying an additional 1,339,326 shares during the last quarter. AGF Management Ltd. purchased a new position in NexGen Energy during the third quarter worth $6,344,000. Y Intercept Hong Kong Ltd increased its position in NexGen Energy by 20.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 703,500 shares of the company’s stock worth $6,296,000 after buying an additional 121,711 shares in the last quarter. Finally, Packer & Co Ltd acquired a new position in shares of NexGen Energy in the third quarter worth $27,072,000. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

Shares of NXE opened at $11.14 on Monday. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $13.96. The stock has a market cap of $7.36 billion, a PE ratio of -29.30 and a beta of 1.41. The firm has a fifty day moving average price of $12.15 and a 200 day moving average price of $10.03.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, equities analysts expect that NexGen Energy will post -0.05 EPS for the current fiscal year.

About NexGen Energy

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.