NexGen Energy (NXE) – What Are Analysts Thinking About This Stock?

NexGen Energy (NYSE:NXE) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.00.

Several research analysts have commented on the stock. Jefferies Financial Group started coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating for the company. JPMorgan Chase & Co. assumed coverage on shares of NexGen Energy in a report on Monday, September 21st. They issued an “overweight” rating and a $14.00 target price for the company. Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a report on Friday, August 28th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in NexGen Energy by 26.9% in the 2nd quarter. Van ECK Associates Corp now owns 39,859,017 shares of the company’s stock valued at $374,256,000 after acquiring an additional 8,459,150 shares during the last quarter. Alps Advisors Inc. grew its holdings in shares of NexGen Energy by 13.0% in the third quarter. Alps Advisors Inc. now owns 27,879,166 shares of the company’s stock worth $254,258,000 after purchasing an additional 3,208,684 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in NexGen Energy in the 2nd quarter worth about $68,283,000. Bank of New York Mellon Corp bought a new stake in NexGen Energy during the 2nd quarter valued at about $43,366,000. Finally, Deutsche Bank AG purchased a new stake in shares of NexGen Energy in the second quarter valued at approximately $38,301,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Trading Up 4.0%

Shares of NYSE NXE opened at $8.25 on Tuesday. The firm’s 50-day moving average price is $9.11 and its 200-day moving average price is $10.66. NexGen Energy has a 12-month low of $7.33 and a 12-month high of $13.96. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of -20.62 and a beta of 1.43.

About NexGen Energy

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing projects in the Athabasca Basin of Saskatchewan, Canada. The company’s primary asset is the 100%-owned Rook I property, which hosts the Arrow uranium deposit and other discoveries.

NexGen’s main objective is to develop Rook I into a large-scale uranium mining and processing operation. The company conducts exploration, resource evaluation, engineering, environmental assessment and project permitting activities, rather than currently selling uranium or operating a producing mine.