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

NexGen Energy (NYSE:NXE) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

A number of brokerages recently issued reports on NXE. Desjardins began coverage on NexGen Energy in a research note on Tuesday, June 10th. They issued a “buy” rating for the company. TD Securities restated a “buy” rating on shares of NexGen Energy in a research note on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research note on Saturday, September 27th.

NexGen Energy Price Performance

Shares of NXE stock opened at $8.73 on Monday. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -34.90 and a beta of 1.44. The business has a fifty day moving average of $7.66 and a 200 day moving average of $6.44. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $9.43.

NexGen Energy (NYSE:NXE) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). As a group, equities research analysts expect that NexGen Energy will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors have recently modified their holdings of the stock. L1 Capital Pty Ltd raised its stake in shares of NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company’s stock valued at $234,683,000 after buying an additional 3,171,558 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NexGen Energy by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company’s stock valued at $93,928,000 after buying an additional 520,279 shares during the last quarter. Alps Advisors Inc. raised its stake in shares of NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company’s stock valued at $76,535,000 after buying an additional 1,299,255 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of NexGen Energy by 18.0% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,219,454 shares of the company’s stock valued at $63,918,000 after buying an additional 1,407,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of NexGen Energy by 1.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,220,545 shares of the company’s stock valued at $32,317,000 after buying an additional 98,128 shares during 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.