NexGen Energy (NXE) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on NexGen Energy, with five buy ratings and one sell rating. The average 12-month price target is $14.00.
• NexGen shares opened at $7.87, down 4.9%, and remain below their 50-day and 200-day moving averages of $9.36 and $10.73, respectively.
• The company is focused on developing its Rook I uranium project in Saskatchewan and is not yet producing or selling uranium. Institutional investors and hedge funds own approximately 42.4% of the stock.

NexGen Energy (NYSE:NXE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $14.00.

Several analysts have recently weighed in on NXE shares. Jefferies Financial Group started coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They issued a "buy" rating for the company. Wall Street Zen raised shares of NexGen Energy from a "strong sell" rating to a "sell" rating in a research report on Sunday, October 25th. JPMorgan Chase & Co. initiated coverage on NexGen Energy in a report on Monday, September 21st. They issued an "overweight" rating and a $14.00 price objective on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of NexGen Energy in a research report on Friday, August 28th.

NexGen Energy Trading Down 4.9%

NexGen Energy stock opened at $7.87 on Tuesday. The company has a 50-day moving average price of $9.36 and a 200 day moving average price of $10.73. NexGen Energy has a 12-month low of $7.33 and a 12-month high of $13.96. The stock has a market cap of $5.27 billion, a P/E ratio of -19.67 and a beta of 1.45.

Hedge Funds Weigh In On NexGen Energy

Several large investors have recently modified their holdings of the business. Leonteq Securities AG raised its holdings in shares of NexGen Energy by 88.2% in the 1st quarter. Leonteq Securities AG now owns 2,343 shares of the company's stock valued at $28,000 after buying an additional 1,098 shares during the period. Guardian Partners Inc. lifted its stake in NexGen Energy by 43.3% during the 3rd quarter. Guardian Partners Inc. now owns 4,300 shares of the company's stock worth $39,000 after acquiring an additional 1,300 shares in the last quarter. Themes Management Co LLC boosted its holdings in NexGen Energy by 6.7% during the 1st quarter. Themes Management Co LLC now owns 76,340 shares of the company's stock valued at $886,000 after acquiring an additional 4,788 shares during the period. Trifecta Capital Advisors LLC purchased a new position in NexGen Energy during the 2nd quarter valued at about $46,000. Finally, Wealthspire Retirement LLC boosted its holdings in NexGen Energy by 32.3% during the 1st quarter. Wealthspire Retirement LLC now owns 20,500 shares of the company's stock valued at $238,000 after acquiring an additional 5,000 shares during the period. Institutional investors and hedge funds own 42.43% of the company's stock.

About NexGen Energy

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing projects in the Athabasca Basin of Saskatchewan, Canada. The company's primary asset is the 100%-owned Rook I property, which hosts the Arrow uranium deposit and other discoveries.

NexGen's main objective is to develop Rook I into a large-scale uranium mining and processing operation. The company conducts exploration, resource evaluation, engineering, environmental assessment and project permitting activities, rather than currently selling uranium or operating a producing mine.

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