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

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) has earned a consensus rating of "Strong Buy" from the six analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

NXE has been the topic of a number of research analyst reports. Stifel Nicolaus assumed coverage on NexGen Energy in a research report on Wednesday, March 12th. They issued a "buy" rating on the stock. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Stifel Canada raised NexGen Energy to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th.

Institutional Investors Weigh In On NexGen Energy

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of NexGen Energy by 222.6% during the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock worth $41,882,000 after acquiring an additional 4,378,933 shares during the period. Van ECK Associates Corp increased its holdings in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock worth $55,971,000 after purchasing an additional 3,762,756 shares during the period. L1 Capital Pty Ltd raised its position in NexGen Energy by 11.8% in the 1st quarter. L1 Capital Pty Ltd now owns 30,644,505 shares of the company's stock valued at $137,372,000 after purchasing an additional 3,226,055 shares in the last quarter. Packer & Co Ltd acquired a new stake in NexGen Energy in the 1st quarter valued at about $13,581,000. Finally, Encompass Capital Advisors LLC grew its position in shares of NexGen Energy by 249.5% during the first quarter. Encompass Capital Advisors LLC now owns 4,153,080 shares of the company's stock worth $18,635,000 after buying an additional 2,964,900 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Price Performance

NXE traded up $0.09 during trading hours on Tuesday, reaching $6.43. The company's stock had a trading volume of 8,126,691 shares, compared to its average volume of 7,098,166. The stock has a market cap of $3.66 billion, a PE ratio of 42.87 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. The business's 50-day moving average is $5.05 and its 200-day moving average is $6.14.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Analysts expect that NexGen Energy will post -0.05 EPS for the current year.

About NexGen Energy

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.