NexGen Energy (NYSE:NXE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• NexGen Energy has a “Moderate Buy” consensus rating from six analysts: four buys, one hold and one sell. Recent coverage included a buy rating from Jefferies, while Wall Street Zen and Weiss Ratings maintained sell-related views.
• Institutional investors own approximately 42.43% of NexGen’s shares, with Millennium Management, NewEdge Advisors, Goldman Sachs and UBS among firms that increased their positions during the first quarter.
• NexGen shares opened at $9.84, down 0.2%, with a market capitalization of about $6.58 billion. The company is focused on developing its Rook I uranium project in Saskatchewan’s Athabasca Basin.

NexGen Energy (NYSE:NXE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company.

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded NexGen Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Jefferies Financial Group initiated coverage on NexGen Energy in a research report on Thursday, September 3rd. They issued a "buy" rating on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NexGen Energy in a report on Friday, August 28th.

Institutional Trading of NexGen Energy

A number of hedge funds have recently added to or reduced their stakes in NXE. Millennium Management LLC increased its holdings in shares of NexGen Energy by 15.3% during the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company's stock worth $18,407,000 after buying an additional 543,179 shares in the last quarter. NewEdge Advisors LLC grew its position in NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company's stock worth $680,000 after acquiring an additional 10,266 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock worth $13,412,000 after purchasing an additional 36,510 shares in the last quarter. Caxton Associates LLP bought a new position in NexGen Energy in the first quarter valued at about $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of NexGen Energy by 13.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company's stock valued at $3,166,000 after purchasing an additional 81,167 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

NexGen Energy Trading Down 0.2%

Shares of NexGen Energy stock opened at $9.84 on Monday. The company has a market cap of $6.58 billion, a PE ratio of -24.59 and a beta of 1.40. The company has a 50 day moving average of $9.96 and a 200-day moving average of $10.94. NexGen Energy has a 1-year low of $7.33 and a 1-year high of $13.96.

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.

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