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

NexGen Energy (NYSE:NXE) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $14.00.

A number of equities research analysts have commented on NXE shares. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Friday, August 28th. Jefferies Financial Group started coverage on NexGen Energy in a research note on Thursday, September 3rd. They issued a “buy” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of NexGen Energy in a research note on Monday, September 21st. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th.

Institutional Investors Weigh In On NexGen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Leonteq Securities AG increased its position in NexGen Energy by 88.2% during the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock worth $28,000 after acquiring an additional 1,098 shares during the period. Themes Management Co LLC raised its stake in shares of NexGen Energy by 6.7% in the first quarter. Themes Management Co LLC now owns 76,340 shares of the company’s stock valued at $886,000 after purchasing an additional 4,788 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new stake in NexGen Energy during the second quarter worth $46,000. Wealthspire Retirement LLC increased its holdings in NexGen Energy by 32.3% in the 1st quarter. Wealthspire Retirement LLC now owns 20,500 shares of the company’s stock valued at $238,000 after buying an additional 5,000 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of NexGen Energy during the 2nd quarter worth about $62,000. 42.43% of the stock is owned by institutional investors and hedge funds.

NexGen Energy Trading Up 5.8%

NYSE NXE opened at $8.55 on Friday. NexGen Energy has a 12 month low of $7.33 and a 12 month high of $13.96. The company’s 50 day simple moving average is $9.86 and its 200 day simple moving average is $10.43.

NexGen Energy Company Profile

NexGen Energy Ltd. is a mineral exploration and development company focused on uranium assets in the Athabasca Basin of Saskatchewan, Canada. The company’s primary project is the Rook I property, which hosts the Arrow uranium deposit in the western Athabasca Basin.

NexGen is advancing Rook I through exploration, technical studies, permitting and development activities. Its work includes drilling, resource evaluation, environmental assessment and infrastructure planning related to the potential future production of uranium.