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

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

Several equities analysts have weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of NexGen Energy in a research note on Thursday, January 22nd.

NexGen Energy Stock Up 0.1%

Shares of NYSE:NXE opened at $12.78 on Thursday. The company’s fifty day moving average is $11.44 and its two-hundred day moving average is $9.47. NexGen Energy has a 12-month low of $3.91 and a 12-month high of $13.96. The company has a market cap of $8.44 billion, a P/E ratio of -31.16 and a beta of 1.44.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of NexGen Energy by 15.3% during the 1st quarter. Millennium Management LLC now owns 4,101,588 shares of the company’s stock valued at $18,407,000 after buying an additional 543,179 shares during the last quarter. NewEdge Advisors LLC raised its position in NexGen Energy by 7.3% during the first quarter. NewEdge Advisors LLC now owns 151,423 shares of the company’s stock valued at $680,000 after acquiring an additional 10,266 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $13,412,000 after acquiring an additional 36,510 shares in the last quarter. Caxton Associates LLP acquired a new stake in NexGen Energy in the first quarter valued at approximately $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in 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 valued at $3,166,000 after buying an additional 81,167 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

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.