Shares of NexGen Energy (NYSE:NXE – Get Free Report) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $14.00.
NXE has been the subject of several research reports. JPMorgan Chase & Co. initiated coverage on NexGen Energy in a research report on Monday, September 21st. They issued an “overweight” rating and a $14.00 target price for the company. Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Sunday, October 25th. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research report on Friday, August 28th. Finally, Jefferies Financial Group assumed coverage on NexGen Energy in a research note on Thursday, September 3rd. They issued a “buy” rating on the stock.
Check Out Our Latest Stock Report on NexGen Energy
Hedge Funds Weigh In On NexGen Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in NXE. Fulcrum Asset Management LLP lifted its stake in shares of NexGen Energy by 173.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 249,621 shares of the company’s stock valued at $2,280,000 after buying an additional 158,474 shares in the last quarter. Alps Advisors Inc. grew its position in shares of NexGen Energy by 13.0% during 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 in the last quarter. Greenfield Seitz Capital Management LLC purchased a new stake in shares of NexGen Energy during the third quarter worth about $161,000. Accordant Advisory Group Inc grew its position in shares of NexGen Energy by 4.2% during the third quarter. Accordant Advisory Group Inc now owns 259,131 shares of the company’s stock worth $2,363,000 after purchasing an additional 10,328 shares in the last quarter. Finally, Generali Asset Management SPA SGR raised its stake in NexGen Energy by 72.2% during the 3rd quarter. Generali Asset Management SPA SGR now owns 1,095,652 shares of the company’s stock valued at $9,992,000 after purchasing an additional 459,509 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.
NexGen Energy Price Performance
Shares of NXE opened at $7.93 on Tuesday. The company has a 50-day simple moving average of $9.17 and a two-hundred day simple moving average of $10.68. The firm has a market capitalization of $5.31 billion, a PE ratio of -19.84 and a beta of 1.43. NexGen Energy has a one year low of $7.33 and a one year high of $13.96.
NexGen Energy Company Profile
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.
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