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

Key Points

• NexGen Energy has received an average rating of "Buy" from six research firms, with five firms issuing buy ratings and one a strong buy rating.
• The stock price of NexGen Energy has shown an upward movement, trading up 2.1%, with prices ranging from a twelve month low of $3.91 to a high of $8.96.
• Institutional investors and hedge funds currently own 42.43% of NexGen Energy's shares, reflecting significant interest and investment in the company.

NexGen Energy (NYSE:NXE - Get Free Report) has earned an average rating of "Buy" from the six research firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company.

Several analysts recently issued reports on NXE shares. TD Securities reiterated a "buy" rating on shares of NexGen Energy in a report on Friday, August 8th. Desjardins began coverage on NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company.

NexGen Energy Trading Up 2.1%

Shares of NXE opened at $7.85 on Thursday. NexGen Energy has a twelve month low of $3.91 and a twelve month high of $8.96. The firm has a market capitalization of $4.48 billion, a P/E ratio of -31.40 and a beta of 1.47. The stock's fifty day simple moving average is $6.96 and its 200 day simple moving average is $5.94.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Sell-side analysts predict that NexGen Energy will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NexGen Energy by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company's stock worth $230,828,000 after purchasing an additional 501,952 shares in the last quarter. L1 Capital Pty Ltd grew its position in NexGen Energy by 10.3% during the 2nd quarter. L1 Capital Pty Ltd now owns 33,816,063 shares of the company's stock worth $234,683,000 after purchasing an additional 3,171,558 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of NexGen Energy by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 20,956,792 shares of the company's stock valued at $93,928,000 after buying an additional 520,279 shares during the period. Alps Advisors Inc. boosted its stake in shares of NexGen Energy by 8.3% during the 1st quarter. Alps Advisors Inc. now owns 17,045,672 shares of the company's stock valued at $76,535,000 after buying an additional 1,299,255 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of NexGen Energy by 18.0% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 9,219,454 shares of the company's stock valued at $63,918,000 after purchasing an additional 1,407,000 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

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.

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