NexGen Energy Ltd. (NYSE:NXE) Receives Average Recommendation of "Strong Buy" from Brokerages

Shares of NexGen Energy Ltd. (NYSE:NXE - Get Free Report) have been assigned a consensus recommendation of "Strong Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company.

Several equities analysts recently weighed in on the stock. Raymond James reissued an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus began coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Stifel Canada upgraded NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th.

NexGen Energy Price Performance

NXE stock traded up $0.24 during mid-day trading on Monday, reaching $4.65. The company had a trading volume of 10,893,984 shares, compared to its average volume of 6,822,861. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 30.97 and a beta of 2.02. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96. The stock has a 50 day simple moving average of $5.15 and a two-hundred day simple moving average of $6.58.

Hedge Funds Weigh In On NexGen Energy

Several large investors have recently modified their holdings of NXE. PNC Financial Services Group Inc. boosted its holdings in shares of NexGen Energy by 284.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company's stock worth $33,000 after buying an additional 3,700 shares during the period. Altshuler Shaham Ltd bought a new stake in shares of NexGen Energy during the fourth quarter worth approximately $51,000. Mariner LLC acquired a new position in shares of NexGen Energy in the fourth quarter valued at approximately $68,000. Silver Lake Advisory LLC acquired a new position in shares of NexGen Energy in the fourth quarter valued at approximately $73,000. Finally, Aptus Capital Advisors LLC bought a new position in shares of NexGen Energy during the fourth quarter worth approximately $79,000. 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 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.