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

Key Points

• NexGen Energy received a consensus analyst rating of "Moderate Buy", based on coverage from six research firms. The breakdown included four buy ratings, one hold, and one sell.
• Institutional investors have been active in the stock, with major firms such as Vanguard, Norges Bank, CIBC Asset Management, Van ECK, and Millennium Management adjusting their positions. About 42.43% of the company is owned by institutional investors.
• The stock was down 2.4% to $9.14, and it remains well below its 52-week high of $13.96 but above its 52-week low of $6.26. NexGen is a uranium exploration and development company focused on its Rook I/Arrow project in Saskatchewan.

NexGen Energy (NYSE:NXE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company.

Several analysts recently commented on NXE shares. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a research report on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd.

Hedge Funds Weigh In On NexGen Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of NexGen Energy during the fourth quarter valued at $72,303,000. CIBC Asset Management Inc boosted its holdings in shares of NexGen Energy by 341.9% during the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company's stock valued at $81,312,000 after acquiring an additional 6,825,731 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of NexGen Energy by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock worth $268,240,000 after acquiring an additional 5,523,932 shares during the period. Millennium Management LLC grew its stake in shares of NexGen Energy by 97.8% in the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock worth $90,718,000 after acquiring an additional 5,011,890 shares during the period. Finally, 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 valued at $226,901,000 after purchasing an additional 3,304,071 shares during the last quarter. 42.43% of the stock is owned by institutional investors.

NexGen Energy Trading Down 2.4%

NYSE NXE opened at $9.14 on Friday. NexGen Energy has a 12 month low of $6.26 and a 12 month high of $13.96. The stock's fifty day moving average price is $10.09 and its 200-day moving average price is $11.33. The stock has a market cap of $6.12 billion, a P/E ratio of -18.66 and a beta of 1.39.

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.

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