NexGen Energy Ltd. (NYSE:NXE) Receives Consensus Recommendation of "Strong Buy" from Brokerages

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) has been assigned an average rating of "Strong Buy" from the seven brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company.

A number of research analysts have commented on NXE shares. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They set a "buy" rating on the stock. Stifel Canada raised shares of NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th.

NexGen Energy Stock Performance

NXE traded down $0.10 on Friday, reaching $5.24. The company had a trading volume of 8,144,039 shares, compared to its average volume of 6,993,731. The company's fifty day moving average is $4.79 and its 200 day moving average is $6.35. The stock has a market cap of $2.98 billion, a P/E ratio of 34.90 and a beta of 1.50. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $8.96.

Hedge Funds Weigh In On NexGen Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in NexGen Energy by 284.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company's stock valued at $33,000 after purchasing an additional 3,700 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of NexGen Energy during the 4th quarter worth $51,000. Mariner LLC bought a new stake in shares of NexGen Energy during the 4th quarter worth $68,000. Silver Lake Advisory LLC acquired a new stake in NexGen Energy in the fourth quarter valued at about $73,000. Finally, Aptus Capital Advisors LLC bought a new position in NexGen Energy in the fourth quarter valued at about $79,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.