NexGen Energy (NYSE:NXE) Rating Increased to Strong-Buy at National Bank Financial

National Bank Financial upgraded shares of NexGen Energy (NYSE:NXE) to a strong-buy rating in a report released on Tuesday, Zacks.com reports. National Bank Financial also issued estimates for NexGen Energy’s FY2024 earnings at ($0.08) EPS, FY2025 earnings at ($0.11) EPS, FY2026 earnings at ($0.11) EPS and FY2027 earnings at ($0.11) EPS.

NXE has been the subject of a number of other research reports. Ventum Cap Mkts upgraded shares of NexGen Energy to a strong-buy rating in a report on Monday, July 8th. Haywood Securities upgraded NexGen Energy to a strong-buy rating in a report on Friday, May 17th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Strong Buy and an average target price of $11.00.

NexGen Energy Price Performance

NexGen Energy stock opened at $5.32 on Tuesday. NexGen Energy has a 1-year low of $4.95 and a 1-year high of $8.88. The firm has a market capitalization of $2.98 billion, a P/E ratio of -531.50 and a beta of 1.91. The company’s 50-day moving average is $6.27 and its 200 day moving average is $7.12.

NexGen Energy (NYSE:NXE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Research analysts anticipate that NexGen Energy will post -0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of NexGen Energy by 5,020.5% during the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock worth $126,047,000 after purchasing an additional 15,905,444 shares during the last quarter. MMCAP International Inc. SPC lifted its stake in shares of NexGen Energy by 1,627.2% during the 1st quarter. MMCAP International Inc. SPC now owns 3,564,665 shares of the company’s stock worth $27,697,000 after purchasing an additional 3,358,278 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of NexGen Energy by 74.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,341,885 shares of the company’s stock worth $23,393,000 after purchasing an additional 1,430,709 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in shares of NexGen Energy by 6.3% during the 1st quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock worth $187,127,000 after purchasing an additional 1,423,317 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of NexGen Energy by 69.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,135,565 shares of the company’s stock worth $21,880,000 after purchasing an additional 1,283,210 shares during the last quarter. Institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

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.