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

NexGen Energy (NYSE:NXE - Get Free Report) has earned a consensus rating of "Buy" from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

Several equities research analysts recently commented on NXE shares. Stifel Nicolaus initiated coverage on NexGen Energy in a 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 research report on Tuesday, March 11th. Raymond James Financial reiterated an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Desjardins initiated coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They issued a "buy" rating for the company. Finally, Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th.

NexGen Energy Stock Up 1.3%

Shares of NXE stock traded up $0.09 during mid-day trading on Friday, reaching $6.77. The company's stock had a trading volume of 10,027,061 shares, compared to its average volume of 7,518,150. The firm has a market capitalization of $3.86 billion, a PE ratio of -42.28 and a beta of 1.54. The company's 50 day simple moving average is $5.79 and its 200-day simple moving average is $5.92. NexGen Energy has a 12-month low of $3.91 and a 12-month high of $8.96.

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

Institutional Trading of NexGen Energy

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NexGen Energy by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company's stock valued at $230,828,000 after buying an additional 501,952 shares in the last quarter. L1 Capital Pty Ltd raised its position 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 valued at $137,372,000 after acquiring an additional 3,226,055 shares in the last quarter. Vanguard Group Inc. lifted its stake in NexGen Energy by 2.5% during the first quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company's stock worth $93,928,000 after purchasing an additional 520,279 shares during the last quarter. Alps Advisors Inc. lifted its stake in NexGen Energy by 8.3% during the first quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock worth $76,535,000 after purchasing an additional 1,299,255 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its holdings in NexGen Energy by 1.0% in the fourth quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company's stock worth $57,659,000 after purchasing an additional 82,413 shares during the period. Institutional investors and hedge funds own 42.43% of the company's stock.

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.