FY2024 EPS Estimates for NexGen Energy Lifted by Scotiabank

NexGen Energy Ltd. (NYSE:NXE - Free Report) - Investment analysts at Scotiabank raised their FY2024 EPS estimates for NexGen Energy in a report released on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now expects that the company will earn ($0.06) per share for the year, up from their prior estimate of ($0.08). The consensus estimate for NexGen Energy's current full-year earnings is ($0.05) per share. Scotiabank also issued estimates for NexGen Energy's FY2025 earnings at ($0.07) EPS and FY2026 earnings at ($0.19) EPS.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same quarter in the previous year, the firm posted ($0.04) EPS.

NexGen Energy Stock Performance

NYSE NXE traded down $0.13 on Friday, hitting $6.79. 5,722,424 shares of the stock were exchanged, compared to its average volume of 7,810,457. NexGen Energy has a 52-week low of $4.95 and a 52-week high of $8.96. The firm has a market capitalization of $3.84 billion, a P/E ratio of 45.27 and a beta of 1.96. The stock has a fifty day moving average price of $7.56 and a two-hundred day moving average price of $6.89.

Institutional Trading of NexGen Energy

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company's stock valued at $46,434,000 after acquiring an additional 6,317,538 shares during the period. Mountaineer Partners Management LLC grew its stake in NexGen Energy by 536.6% in the third quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company's stock valued at $24,071,000 after purchasing an additional 3,107,214 shares during 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 worth $76,217,000 after purchasing an additional 1,931,200 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of NexGen Energy by 50.5% during the third quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company's stock valued at $30,810,000 after buying an additional 1,582,705 shares during the last quarter. Finally, Appian Way Asset Management LP boosted its holdings in shares of NexGen Energy by 403.7% in the 3rd quarter. Appian Way Asset Management LP now owns 1,626,807 shares of the company's stock valued at $10,623,000 after buying an additional 1,303,864 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

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.