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

NexGen Energy (NYSE:NXE) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company.

A number of equities research analysts recently weighed in on NXE shares. Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd.

Hedge Funds Weigh In On NexGen Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Rathbones Group PLC lifted its holdings in NexGen Energy by 16.1% during the 4th quarter. Rathbones Group PLC now owns 33,131 shares of the company’s stock worth $305,000 after purchasing an additional 4,591 shares during the last quarter. Banque Cantonale Vaudoise increased its position in NexGen Energy by 193.0% during the 4th quarter. Banque Cantonale Vaudoise now owns 212,569 shares of the company’s stock worth $1,959,000 after buying an additional 140,015 shares during the period. Knuff & Co LLC bought a new position in NexGen Energy during the 4th quarter worth $104,000. World Investment Advisors acquired a new stake in shares of NexGen Energy during the fourth quarter worth $184,000. Finally, ABC Arbitrage SA bought a new stake in shares of NexGen Energy in the fourth quarter valued at about $634,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Price Performance

NexGen Energy stock opened at $11.03 on Friday. The company’s 50-day moving average is $10.51 and its 200-day moving average is $8.93. The firm has a market capitalization of $7.28 billion, a PE ratio of -26.90 and a beta of 1.44. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $13.96.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). As a group, analysts expect that NexGen Energy will post -0.05 EPS for the current year.

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.