FY2024 EPS Estimates for NexGen Energy Increased by Analyst

NexGen Energy Ltd. (NYSE:NXE) – Equities researchers at Ventum Cap Mkts boosted their FY2024 earnings estimates for NexGen Energy in a research report issued to clients and investors on Tuesday, November 12th. Ventum Cap Mkts analyst A. Terentiew now forecasts that the company will post earnings of ($0.04) per share for the year, up from their previous estimate of ($0.09). The consensus estimate for NexGen Energy’s current full-year earnings is ($0.09) per share. Ventum Cap Mkts also issued estimates for NexGen Energy’s FY2025 earnings at ($0.09) EPS, FY2026 earnings at ($0.06) EPS and FY2027 earnings at ($0.14) EPS.

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

Separately, National Bank Financial raised NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average price target of $11.00.

NexGen Energy Stock Performance

NYSE NXE opened at $7.38 on Friday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 49.20 and a beta of 1.90. NexGen Energy has a 1 year low of $4.95 and a 1 year high of $8.88. The business’s fifty day moving average is $6.93 and its two-hundred day moving average is $6.87.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda acquired a new position in NexGen Energy in the 3rd quarter worth approximately $6,585,000. Swiss National Bank boosted its position in shares of NexGen Energy by 12.9% in the first quarter. Swiss National Bank now owns 989,000 shares of the company’s stock worth $7,686,000 after buying an additional 112,700 shares during the period. Rye Brook Capital LLC grew its holdings in shares of NexGen Energy by 18.7% during the third quarter. Rye Brook Capital LLC now owns 695,000 shares of the company’s stock valued at $4,538,000 after buying an additional 109,500 shares in the last quarter. Millennium Management LLC raised its position in NexGen Energy by 109.6% during the second quarter. Millennium Management LLC now owns 1,641,407 shares of the company’s stock valued at $11,441,000 after buying an additional 858,471 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in NexGen Energy by 316.0% in the 1st quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company’s stock worth $1,140,000 after acquiring an additional 111,283 shares in the last quarter. 42.43% of the stock is owned by hedge funds and other 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 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.