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

NexGen Energy (NYSE:NXE) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company.

Several research analysts have recently weighed in on the stock. UBS Group assumed coverage on shares of NexGen Energy in a report on Thursday, March 5th. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd. Finally, Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a report on Friday, May 8th.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $9.84 on Friday. The stock has a market cap of $6.51 billion, a P/E ratio of -20.07 and a beta of 1.35. The firm has a 50 day moving average price of $11.58 and a 200 day moving average price of $11.21. NexGen Energy has a 52-week low of $6.26 and a 52-week high of $13.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. New Harbor Financial Group LLC boosted 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 valued at $225,000 after buying an additional 1,000 shares during the period. Legacy Capital Group California Inc. boosted its holdings in shares of NexGen Energy by 1.3% in the fourth quarter. Legacy Capital Group California Inc. now owns 86,250 shares of the company’s stock valued at $794,000 after buying an additional 1,093 shares during the period. Leonteq Securities AG boosted its holdings in shares of NexGen Energy by 88.2% in the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after buying an additional 1,098 shares during the period. Tidal Investments LLC boosted its holdings in shares of NexGen Energy by 6.9% in the second quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after buying an additional 1,817 shares during the period. Finally, Osaic Holdings Inc. boosted its holdings in shares of NexGen Energy by 5.7% in the second 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 during the period. Institutional investors and hedge funds own 42.43% of the company’s stock.

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.