NexGen Energy (NYSE:NXE) Receives Consensus Rating of “Moderate Buy” from Analysts

NexGen Energy (NYSE:NXE) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company.

A number of research analysts have recently commented on NXE shares. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. UBS Group started coverage on shares of NexGen Energy in a report on Thursday, March 5th. They issued a “buy” rating for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd.

NexGen Energy Stock Down 2.6%

NXE opened at $10.95 on Tuesday. NexGen Energy has a twelve month low of $5.29 and a twelve month high of $13.96. The company has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $10.94. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of -22.35 and a beta of 1.39.

NexGen Energy (NYSE:NXE) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Sell-side analysts anticipate that NexGen Energy will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NXE. Millennium Management LLC lifted its holdings in shares of NexGen Energy by 15.3% in the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock worth $18,407,000 after acquiring an additional 543,179 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of NexGen Energy by 7.3% in the first quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock worth $680,000 after acquiring an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NexGen Energy by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company’s stock worth $13,412,000 after acquiring an additional 36,510 shares during the last quarter. Caxton Associates LLP bought a new position in shares of NexGen Energy in the first quarter worth about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NexGen Energy by 13.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company’s stock valued at $3,166,000 after buying an additional 81,167 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

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.