NexGen Energy (NYSE:NXE) Stock Has Average Price Target of $14.00 According to Analysts

Shares of NexGen Energy (NYSE:NXE) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $14.00.

NXE has been the topic of a number of research reports. Jefferies Financial Group started coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on shares of NexGen Energy in a research note on Monday, September 21st. They issued an “overweight” rating and a $14.00 price target for the company. Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a report on Friday, August 28th.

NexGen Energy Trading Up 0.3%

Shares of NYSE NXE opened at $8.78 on Friday. NexGen Energy has a 12 month low of $7.33 and a 12 month high of $13.96. The firm has a market capitalization of $5.87 billion, a PE ratio of -21.94 and a beta of 1.45. The firm has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $10.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Leonteq Securities AG boosted its position in shares of NexGen Energy by 88.2% during the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after purchasing an additional 1,098 shares in the last quarter. Themes Management Co LLC grew its stake in NexGen Energy by 6.7% in the first quarter. Themes Management Co LLC now owns 76,340 shares of the company’s stock worth $886,000 after purchasing an additional 4,788 shares during the period. Trifecta Capital Advisors LLC purchased a new stake in NexGen Energy in the second quarter worth $46,000. Wealthspire Retirement LLC grew its stake in NexGen Energy by 32.3% in the first quarter. Wealthspire Retirement LLC now owns 20,500 shares of the company’s stock worth $238,000 after purchasing an additional 5,000 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in NexGen Energy in the second quarter worth $62,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd. is a mineral exploration and development company focused on uranium assets in the Athabasca Basin of Saskatchewan, Canada. The company’s primary project is the Rook I property, which hosts the Arrow uranium deposit in the western Athabasca Basin.

NexGen is advancing Rook I through exploration, technical studies, permitting and development activities. Its work includes drilling, resource evaluation, environmental assessment and infrastructure planning related to the potential future production of uranium.