NexGen Energy (NYSE:NXE) Receives Consensus Recommendation of “Buy” from Brokerages

NexGen Energy (NYSE:NXE) has earned an average recommendation of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy rating and three have given a strong buy rating to the company.

Several research firms have commented on NXE. Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Desjardins began coverage on NexGen Energy in a research report on Tuesday, June 10th. They issued a “buy” rating for the company. Stifel Nicolaus began coverage on NexGen Energy in a research report on Wednesday, March 12th. They issued a “buy” rating for the company. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a research report on Friday, April 4th.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NexGen Energy by 13.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock worth $3,166,000 after acquiring an additional 81,167 shares during the last quarter. Caxton Associates LLP acquired a new stake in NexGen Energy during the first quarter worth approximately $165,000. Goldman Sachs Group Inc. grew its stake in NexGen Energy by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock worth $13,412,000 after purchasing an additional 36,510 shares during the period. PenderFund Capital Management Ltd. grew its stake in NexGen Energy by 45.0% during the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company’s stock worth $52,000 after purchasing an additional 3,600 shares during the period. Finally, NewEdge Advisors LLC grew its stake in NexGen Energy by 7.3% during the first quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after purchasing an additional 10,266 shares during the period. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Stock Down 1.8%

Shares of NXE stock opened at $6.80 on Friday. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $8.96. The company has a market cap of $3.87 billion, a P/E ratio of -42.47 and a beta of 1.54. The business has a fifty day simple moving average of $5.96 and a 200 day simple moving average of $5.91.

NexGen Energy (NYSE:NXE) last posted its earnings results on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). As a group, equities research analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

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.