Brokers Set Expectations for NexGen Energy FY2024 Earnings

NexGen Energy Ltd. (NYSE:NXE) – Equities researchers at Raymond James upped their FY2024 earnings per share estimates for NexGen Energy in a note issued to investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now expects that the company will post earnings per share of ($0.05) for the year, up from their prior forecast of ($0.09). The consensus estimate for NexGen Energy’s current full-year earnings is ($0.06) per share.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same period in the previous year, the company posted ($0.04) EPS.

Separately, National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average price target of $11.00.

NexGen Energy Stock Up 7.0 %

NexGen Energy stock opened at $8.48 on Monday. The firm has a fifty day simple moving average of $7.04 and a two-hundred day simple moving average of $6.85. NexGen Energy has a twelve month low of $4.95 and a twelve month high of $8.88. The company has a market capitalization of $4.79 billion, a PE ratio of 56.50 and a beta of 1.90.

Institutional Investors Weigh In On NexGen Energy

A number of large investors have recently added to or reduced their stakes in NXE. Larson Financial Group LLC purchased a new stake in shares of NexGen Energy during the second quarter worth about $33,000. DekaBank Deutsche Girozentrale purchased a new stake in NexGen Energy in the 3rd quarter worth approximately $76,000. SevenBridge Financial Group LLC purchased a new stake in NexGen Energy in the 3rd quarter worth approximately $87,000. New Harbor Financial Group LLC grew its position in shares of NexGen Energy by 20.0% in the 3rd quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock worth $98,000 after buying an additional 2,500 shares during the last quarter. Finally, Element Capital Management LLC purchased a new position in shares of NexGen Energy during the second quarter valued at approximately $110,000. Institutional investors 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.