Raymond James Weighs in on NexGen Energy Ltd.’s FY2024 Earnings (NYSE:NXE)

NexGen Energy Ltd. (NYSE:NXE) – Stock analysts at Raymond James raised their FY2024 earnings per share (EPS) estimates for NexGen Energy in a report issued on Tuesday, April 30th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings of ($0.09) per share for the year, up from their prior forecast of ($0.10). The consensus estimate for NexGen Energy’s current full-year earnings is ($0.09) per share.

NexGen Energy (NYSE:NXE) last released its earnings results on Wednesday, March 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05).

Separately, Scotiabank initiated coverage on NexGen Energy in a research report on Monday, April 1st. They issued a “sector outperform” rating on the stock.

NexGen Energy Price Performance

NYSE NXE opened at $8.29 on Friday. The stock has a 50-day simple moving average of $7.76 and a 200 day simple moving average of $7.14. NexGen Energy has a twelve month low of $3.61 and a twelve month high of $8.88. The stock has a market capitalization of $4.47 billion, a PE ratio of 414.71 and a beta of 1.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 11.00 and a current ratio of 11.00.

Institutional Trading of NexGen Energy

A number of hedge funds have recently bought and sold shares of NXE. Hartree Partners LP acquired a new position in shares of NexGen Energy during the first quarter valued at about $583,000. Lodestone Wealth Management LLC bought a new position in NexGen Energy during the first quarter valued at about $91,000. Van ECK Associates Corp raised its holdings in NexGen Energy by 23.3% in the 1st quarter. Van ECK Associates Corp now owns 1,852,355 shares of the company’s stock valued at $14,395,000 after acquiring an additional 350,017 shares in the last quarter. Violich Capital Management Inc. lifted its position in shares of NexGen Energy by 1.3% in the 1st quarter. Violich Capital Management Inc. now owns 109,400 shares of the company’s stock worth $850,000 after acquiring an additional 1,400 shares during the period. Finally, Triasima Portfolio Management inc. grew its holdings in shares of NexGen Energy by 182.9% during the 1st quarter. Triasima Portfolio Management inc. now owns 703,809 shares of the company’s stock worth $5,471,000 after purchasing an additional 455,026 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.