NexGen Energy (NYSE:NXE) Stock Has Average Price Target of $14.00

Shares of NexGen Energy (NYSE:NXE) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.00.

NXE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 25th. Jefferies Financial Group initiated coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. assumed coverage on shares of NexGen Energy in a report on Monday, September 21st. They set an “overweight” rating and a $14.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGen Energy in a research report on Friday, August 28th.

NexGen Energy Stock Performance

NYSE:NXE opened at $8.75 on Tuesday. The firm has a fifty day simple moving average of $9.08 and a two-hundred day simple moving average of $10.64. NexGen Energy has a 12 month low of $7.33 and a 12 month high of $13.96.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04).

Institutional Trading of NexGen Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG lifted its holdings in shares of NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after purchasing an additional 1,098 shares in the last quarter. Guardian Partners Inc. grew its holdings in NexGen Energy by 43.3% during the third quarter. Guardian Partners Inc. now owns 4,300 shares of the company’s stock worth $39,000 after buying an additional 1,300 shares in the last quarter. Trifecta Capital Advisors LLC bought a new stake in NexGen Energy during the second quarter worth $46,000. Integrated Wealth Concepts LLC bought a new stake in NexGen Energy during the second quarter worth $62,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in NexGen Energy in the 2nd quarter valued at $94,000. 42.43% of the stock is owned by institutional investors.

NexGen Energy Company Profile

NexGen Energy is a Canadian uranium exploration and development company focused on advancing uranium projects toward potential production. Its activities include mineral exploration, project planning, engineering and permitting.

The company’s flagship asset is the Rook I Project in Saskatchewan’s Athabasca Basin, a major uranium-producing region. Rook I contains the Arrow deposit, which NexGen is working to develop as a potential uranium mine.

NexGen’s operations are centered in Canada.