Analysts Set Expectations for NexGen Energy FY2024 Earnings

NexGen Energy Ltd. (NYSE:NXE - Free Report) - Equities researchers at Raymond James boosted their FY2024 earnings per share estimates for NexGen Energy in a research report issued on Wednesday, November 13th. Raymond James analyst B. Macarthur now forecasts that the company will earn ($0.05) per share for the year, up from their prior estimate of ($0.09). The consensus estimate for NexGen Energy's current full-year earnings is ($0.06) per share.

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

NexGen Energy Stock Up 7.2 %

NYSE:NXE traded up $0.53 during mid-day trading on Monday, hitting $7.91. 7,176,127 shares of the company traded hands, compared to its average volume of 5,737,434. The stock's fifty day moving average price is $6.93 and its 200-day moving average price is $6.85. NexGen Energy has a one year low of $4.95 and a one year high of $8.88. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 53.27 and a beta of 1.90.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.04) earnings per share.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in shares of NexGen Energy by 719.6% during the 3rd quarter. Toronto Dominion Bank now owns 180,140 shares of the company's stock worth $1,176,000 after purchasing an additional 158,160 shares during the last quarter. Segra Capital Management LLC raised its position in shares of NexGen Energy by 19.8% during the 3rd 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. Barclays PLC raised its position in shares of NexGen Energy by 328.3% during the 3rd quarter. Barclays PLC now owns 187,861 shares of the company's stock valued at $1,227,000 after buying an additional 143,996 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of NexGen Energy during the 3rd quarter valued at approximately $852,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of NexGen Energy during the 3rd quarter valued at approximately $796,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

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.