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

NexGen Energy (NYSE:NXE) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company.

Several brokerages have recently issued reports on NXE. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th.

Institutional Investors Weigh In On NexGen Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. L1 Capital Pty Ltd raised its holdings in shares of NexGen Energy by 9.1% in the 4th quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company’s stock worth $309,145,000 after purchasing an additional 2,804,090 shares during the period. Van ECK Associates Corp grew its holdings in shares of NexGen Energy by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after purchasing an additional 5,523,932 shares during the period. Vanguard Group Inc. grew its holdings in shares of NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $226,901,000 after purchasing an additional 3,304,071 shares during the period. Millennium Management LLC increased its position in NexGen Energy by 97.8% during the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after purchasing an additional 5,011,890 shares in the last quarter. Finally, Hancock Prospecting Pty Ltd increased its position in NexGen Energy by 10.0% during the 4th quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company’s stock worth $83,656,000 after purchasing an additional 828,245 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Stock Down 1.8%

NYSE:NXE opened at $9.16 on Friday. The company has a market cap of $6.13 billion, a P/E ratio of -18.69 and a beta of 1.39. NexGen Energy has a fifty-two week low of $6.26 and a fifty-two week high of $13.96. The firm’s 50 day moving average is $9.94 and its two-hundred day moving average is $11.28.

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.