NexGen Energy (NYSE:NXE) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• NexGen Energy has a “Moderate Buy” consensus rating from seven analysts: five buys, one hold and one sell. The average 12-month price target is $14.00, well above the reported $8.68 opening price.
• Institutional investors own approximately 42.43% of NexGen Energy, with several hedge funds recently increasing their positions or initiating new stakes.
• NexGen is focused on developing its Rook I uranium property in Saskatchewan’s Athabasca Basin, which hosts the Arrow uranium deposit. The stock has traded between $7.33 and $13.96 over the past year and was reported down 3.5%.

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

A number of equities analysts have issued reports on NXE shares. Wall Street Zen upgraded NexGen Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. initiated coverage on NexGen Energy in a research note on Monday, September 21st. They issued an "overweight" rating and a $14.00 price objective for the company. Jefferies Financial Group started coverage on NexGen Energy in a report on Thursday, September 3rd. They issued a "buy" rating on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research report on Friday, August 28th.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently bought and sold shares of NXE. Leonteq Securities AG grew its holdings in 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 during the period. Themes Management Co LLC raised its stake in shares of NexGen Energy by 6.7% in the first quarter. Themes Management Co LLC now owns 76,340 shares of the company's stock valued at $886,000 after buying an additional 4,788 shares during the period. Trifecta Capital Advisors LLC bought a new stake in shares of NexGen Energy in the second quarter valued at $46,000. Wealthspire Retirement LLC lifted its position in shares of 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 buying an additional 5,000 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of NexGen Energy during the 2nd quarter valued at $62,000. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Trading Down 3.5%

NexGen Energy stock opened at $8.68 on Friday. NexGen Energy has a 1-year low of $7.33 and a 1-year high of $13.96. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of -21.69 and a beta of 1.45. The firm's fifty day moving average price is $9.99 and its two-hundred day moving average price is $10.53.

NexGen Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.