NexGen Energy (NYSE:NXE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of NexGen Energy (NYSE:NXE) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company.

A number of brokerages recently commented on NXE. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd.

NexGen Energy Stock Performance

Shares of NexGen Energy stock opened at $9.09 on Wednesday. The stock has a market capitalization of $6.08 billion, a P/E ratio of -18.54 and a beta of 1.39. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96. The stock’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $11.36.

Institutional Trading of NexGen Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. L1 Capital Pty Ltd increased its position in shares of NexGen Energy by 9.1% during the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company’s stock valued at $309,145,000 after buying an additional 2,804,090 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NexGen Energy by 4.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,608,861 shares of the company’s stock valued at $274,103,000 after acquiring an additional 1,189,516 shares in the last quarter. Van ECK Associates Corp grew its stake in NexGen Energy by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock valued at $268,240,000 after acquiring an additional 5,523,932 shares in the last quarter. Vanguard Group Inc. increased its holdings in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $226,901,000 after acquiring an additional 3,304,071 shares during the period. Finally, Millennium Management LLC lifted its stake in NexGen Energy by 97.8% in the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors.

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.