NexGen Energy (NYSE:NXE) Receives Average Recommendation of "Hold" from Analysts

Key Points

• NexGen Energy has an average analyst rating of “Hold” among five brokerages: three recommend buying, one advises holding, and one rates the stock a sell.
• Institutional investors own 42.43% of the company, with major holders including VanECK, L1 Capital, Vanguard and Millennium Management increasing their positions.
• NXE shares recently traded at $10.53, up 2.7%, compared with a 12-month range of $6.26 to $13.96; NexGen is developing its Rook I uranium project in Saskatchewan.

NexGen Energy (NYSE:NXE - Get Free Report) has been assigned an average recommendation of "Hold" from the five brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company.

A number of equities analysts recently issued reports on NXE shares. Weiss Ratings restated a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Wall Street Zen upgraded NexGen Energy from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Friday, May 8th.

Institutional Investors Weigh In On NexGen Energy

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its position in NexGen Energy by 26.9% during the 2nd quarter. Van ECK Associates Corp now owns 39,859,017 shares of the company's stock worth $374,256,000 after buying an additional 8,459,150 shares during the last quarter. L1 Capital Pty Ltd increased its stake in shares of NexGen Energy by 9.1% in the fourth quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock worth $309,145,000 after acquiring an additional 2,804,090 shares during the period. Vanguard Group Inc. raised its holdings in shares of NexGen Energy by 15.5% during the fourth quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company's stock worth $226,901,000 after purchasing an additional 3,304,071 shares during the last quarter. Millennium Management LLC raised its holdings in shares of NexGen Energy by 97.8% during the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock worth $90,718,000 after purchasing an additional 5,011,890 shares during the last quarter. Finally, Hancock Prospecting Pty Ltd lifted its position in NexGen Energy by 10.0% during the fourth quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock valued at $83,656,000 after purchasing an additional 828,245 shares during the period. Hedge funds and other institutional investors own 42.43% of the company's stock.

NexGen Energy Trading Up 2.7%

NYSE NXE opened at $10.53 on Thursday. NexGen Energy has a 12-month low of $6.26 and a 12-month high of $13.96. The company has a fifty day simple moving average of $9.77 and a two-hundred day simple moving average of $11.09. The stock has a market cap of $7.05 billion, a P/E ratio of -26.33 and a beta of 1.40.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source