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

Shares of NexGen Energy (NYSE:NXE) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company.

NXE has been the subject of several recent analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th.

NexGen Energy Stock Up 3.3%

NYSE NXE opened at $12.54 on Friday. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $13.96. The company has a market capitalization of $8.27 billion, a P/E ratio of -30.57 and a beta of 1.44. The stock’s 50-day moving average price is $10.36 and its 200-day moving average price is $8.85.

NexGen Energy (NYSE:NXE) last released its earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). Research analysts anticipate that NexGen Energy will post -0.05 EPS for the current year.

Institutional Investors Weigh In On NexGen Energy

Institutional investors have recently added to or reduced their stakes in the stock. New Harbor Financial Group LLC lifted its holdings in shares of NexGen Energy by 4.3% in the fourth quarter. New Harbor Financial Group LLC now owns 24,500 shares of the company’s stock worth $225,000 after buying an additional 1,000 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in NexGen Energy by 1.3% in the 4th quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock worth $794,000 after acquiring an additional 1,093 shares during the last quarter. Cetera Investment Advisers increased its position in NexGen Energy by 1.4% in the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock worth $893,000 after purchasing an additional 1,772 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock worth $194,000 after buying an additional 1,817 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in shares of NexGen Energy by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after buying an additional 1,904 shares in the last quarter. 42.43% of the stock is owned by hedge funds and other 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.