NexGen Energy (NYSE:NXE) Receives Average Recommendation of “Hold” from Brokerages

NexGen Energy (NYSE:NXE) has been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company.

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th.

NexGen Energy Stock Up 6.1%

NXE opened at $10.84 on Thursday. The stock’s fifty day moving average is $9.80 and its two-hundred day moving average is $11.08. The company has a market capitalization of $7.25 billion, a P/E ratio of -27.10 and a beta of 1.40. NexGen Energy has a 52 week low of $6.67 and a 52 week high of $13.96.

Institutional Investors Weigh In On NexGen Energy

Several large investors have recently modified their holdings of NXE. Leonteq Securities AG boosted its stake in shares of NexGen Energy by 88.2% during the first quarter. Leonteq Securities AG now owns 2,343 shares of the company’s stock valued at $28,000 after purchasing an additional 1,098 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new position in NexGen Energy during the second quarter valued at approximately $46,000. SBI Securities Co. Ltd. raised its stake in NexGen Energy by 454.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after buying an additional 6,528 shares in the last quarter. Tcfg Wealth Management LLC bought a new position in NexGen Energy in the first quarter worth approximately $116,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in NexGen Energy during the second quarter worth $94,000. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.