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

Shares of NexGen Energy (NYSE:NXE) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company.

NXE has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on NexGen Energy in a report on Thursday, September 3rd. They issued a “buy” rating for the company. Wall Street Zen raised NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research report on Friday, August 28th.

Hedge Funds Weigh In On NexGen Energy

Several large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in shares of NexGen Energy in the 2nd quarter worth $62,000. Amundi lifted its position in NexGen Energy by 45.0% during the 2nd quarter. Amundi now owns 3,020,476 shares of the company’s stock valued at $28,362,000 after acquiring an additional 936,908 shares during the period. HighTower Advisors LLC boosted its stake in NexGen Energy by 139.1% during the 2nd quarter. HighTower Advisors LLC now owns 162,508 shares of the company’s stock valued at $1,526,000 after purchasing an additional 94,537 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in NexGen Energy by 5.9% during the second quarter. TD Waterhouse Canada Inc. now owns 168,426 shares of the company’s stock valued at $1,591,000 after purchasing an additional 9,354 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in NexGen Energy in the second quarter worth $532,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Down 1.0%

Shares of NXE opened at $9.36 on Monday. NexGen Energy has a 12-month low of $7.33 and a 12-month high of $13.96. The company has a 50-day moving average of $9.96 and a two-hundred day moving average of $10.84. The stock has a market cap of $6.26 billion, a P/E ratio of -23.40 and a beta of 1.40.

NexGen Energy Company Profile

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing mineral projects in the Athabasca Basin of Saskatchewan, Canada. The company’s primary asset is the Rook I project, which includes the Arrow uranium deposit and other prospective discoveries.

NexGen is working to develop Rook I into a large-scale uranium mining operation through exploration, resource evaluation, environmental studies, permitting and project planning. The company is not primarily a uranium producer; its activities are centered on discovering and advancing uranium resources for potential future development.

Founded in 2011, NexGen Energy is headquartered in Vancouver, British Columbia, and its operations are focused in Saskatchewan’s Athabasca Basin, one of the world’s major uranium-producing regions.