NexGen Energy (NYSE:NXE) Receives Average Recommendation of “Hold” from Brokerages

NexGen Energy (NYSE:NXE) has received an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company.

Several research firms recently commented on NXE. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Finally, Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th.

NexGen Energy Price Performance

Shares of NXE opened at $10.93 on Thursday. The firm has a market cap of $7.31 billion, a P/E ratio of -27.31 and a beta of 1.40. The stock has a 50 day simple moving average of $9.81 and a two-hundred day simple moving average of $11.06. NexGen Energy has a 1 year low of $7.03 and a 1 year high of $13.96.

Institutional Investors Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Leonteq Securities AG boosted its stake in shares of NexGen Energy by 88.2% during the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after purchasing an additional 1,098 shares during the period. Trifecta Capital Advisors LLC bought a new stake in NexGen Energy during the 2nd quarter valued at $46,000. SBI Securities Co. Ltd. raised its holdings in NexGen Energy by 454.3% during the 4th quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock valued at $73,000 after buying an additional 6,528 shares during the last quarter. Flow Traders U.S. LLC bought a new stake in NexGen Energy during the 2nd quarter valued at $76,000. Finally, Jump Financial LLC purchased a new stake in NexGen Energy during the 4th quarter valued at $93,000. 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.