NexGen Energy (NYSE:NXE) Receives Consensus Rating of “Moderate Buy” from Brokerages

NexGen Energy (NYSE:NXE) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company.

Several equities research analysts have recently issued reports on NXE shares. Raymond James Financial reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a report on Thursday, January 22nd.

NexGen Energy Stock Up 3.2%

NXE stock opened at $12.75 on Thursday. The firm has a market cap of $8.42 billion, a PE ratio of -31.10 and a beta of 1.41. The business has a 50 day moving average of $11.64 and a 200-day moving average of $9.60. NexGen Energy has a 12-month low of $3.91 and a 12-month high of $13.96.

Institutional Investors Weigh In On NexGen Energy

A number of hedge funds have recently modified their holdings of NXE. Wealthspire Retirement LLC bought a new position in NexGen Energy during the fourth quarter valued at $143,000. Mackenzie Financial Corp raised its stake in shares of NexGen Energy by 87.4% in the fourth quarter. Mackenzie Financial Corp now owns 554,087 shares of the company’s stock valued at $5,039,000 after buying an additional 258,415 shares during the period. Regal Partners Ltd lifted its position in shares of NexGen Energy by 412.5% during the 4th quarter. Regal Partners Ltd now owns 205,000 shares of the company’s stock valued at $1,886,000 after buying an additional 165,000 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of NexGen Energy by 5.2% during the 4th quarter. NewEdge Advisors LLC now owns 176,900 shares of the company’s stock worth $1,627,000 after acquiring an additional 8,693 shares during the period. Finally, Wellington Management Group LLP increased its holdings in NexGen Energy by 165.8% in the 4th quarter. Wellington Management Group LLP now owns 1,691,552 shares of the company’s stock worth $15,566,000 after acquiring an additional 1,055,076 shares during the last quarter. 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.