NexGen Energy Ltd. (NYSE:NXE) Receives Consensus Rating of “Strong Buy” from Analysts

Shares of NexGen Energy Ltd. (NYSE:NXE) have earned an average recommendation of “Strong Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company.

NXE has been the topic of a number of analyst reports. Stifel Nicolaus started coverage on shares of NexGen Energy in a research report on Wednesday. They set a “buy” rating on the stock. Stifel Canada raised NexGen Energy to a “strong-buy” rating in a research report on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NXE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in NexGen Energy by 1.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company’s stock worth $230,828,000 after acquiring an additional 501,952 shares during the last quarter. Vanguard Group Inc. increased its position in NexGen Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company’s stock worth $134,779,000 after purchasing an additional 298,106 shares in the last quarter. Segra Capital Management LLC raised its holdings in NexGen Energy by 19.8% in the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after buying an additional 1,931,200 shares during the period. Nuveen Asset Management LLC lifted its position in NexGen Energy by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company’s stock valued at $57,659,000 after buying an additional 82,413 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after buying an additional 3,762,756 shares during the period. 42.43% of the stock is owned by hedge funds and other institutional investors.

NexGen Energy Price Performance

NexGen Energy stock opened at $4.81 on Thursday. The stock has a market capitalization of $2.73 billion, a P/E ratio of 32.04 and a beta of 1.97. NexGen Energy has a 12-month low of $4.44 and a 12-month high of $8.96. The firm’s 50-day moving average is $6.23 and its two-hundred day moving average is $6.79.

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.