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

Shares of NexGen Energy (NYSE:NXE) have received an average rating of “Hold” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company.

NXE has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th.

Hedge Funds Weigh In On NexGen Energy

Several hedge funds have recently modified their holdings of the company. New Harbor Financial Group LLC lifted its position in NexGen Energy by 4.3% during the fourth quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock valued at $225,000 after purchasing an additional 1,000 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in NexGen Energy by 1.3% in the 4th quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after buying an additional 1,093 shares in the last quarter. Leonteq Securities AG increased its holdings in shares of NexGen Energy by 88.2% in the 1st quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock worth $28,000 after buying an additional 1,098 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock worth $194,000 after buying an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of NexGen Energy by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after buying an additional 1,904 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Down 1.1%

Shares of NexGen Energy stock opened at $11.09 on Thursday. The stock has a fifty day simple moving average of $9.83 and a 200 day simple moving average of $11.05. NexGen Energy has a 12-month low of $7.17 and a 12-month high of $13.96. The company has a market capitalization of $7.42 billion, a P/E ratio of -27.72 and a beta of 1.40.

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.