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

NexGen Energy (NYSE:NXE - Get Free Report) has been assigned a consensus rating of "Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company.

NXE has been the subject of several research analyst reports. Raymond James Financial reissued an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Desjardins assumed coverage on NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating for the company.

NexGen Energy Price Performance

NXE stock traded up $0.05 during midday trading on Wednesday, reaching $6.99. 7,810,017 shares of the company were exchanged, compared to its average volume of 7,839,961. The business has a 50-day moving average price of $6.37 and a two-hundred day moving average price of $5.87. NexGen Energy has a one year low of $3.91 and a one year high of $8.96. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of -43.78 and a beta of 1.55.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). As a group, analysts anticipate that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors and hedge funds have recently modified their holdings of NXE. JPMorgan Chase & Co. boosted its holdings in shares of NexGen Energy by 222.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock worth $41,882,000 after buying an additional 4,378,933 shares in the last quarter. L1 Capital Pty Ltd boosted its holdings in shares of NexGen Energy by 11.8% during the 1st quarter. L1 Capital Pty Ltd now owns 30,644,505 shares of the company's stock worth $137,372,000 after buying an additional 3,226,055 shares in the last quarter. Packer & Co Ltd bought a new position in shares of NexGen Energy during the 1st quarter worth approximately $13,581,000. Encompass Capital Advisors LLC boosted its holdings in shares of NexGen Energy by 249.5% during the 1st 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. Finally, Anson Funds Management LP bought a new position in shares of NexGen Energy during the 1st quarter worth approximately $7,846,000. 42.43% of the stock is currently owned by institutional investors.

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.