FY2024 EPS Estimates for NexGen Energy Boosted by Scotiabank

NexGen Energy Ltd. (NYSE:NXE) – Research analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for NexGen Energy in a report issued on Wednesday, January 8th. Scotiabank analyst O. Wowkodaw now anticipates that the company will post earnings of ($0.06) per share for the year, up from their prior forecast 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 Trading Down 1.9 %

NXE stock opened at $6.79 on Friday. The firm has a market cap of $3.84 billion, a PE ratio of 45.27 and a beta of 1.96. NexGen Energy has a 1 year low of $4.95 and a 1 year high of $8.96. The company has a fifty day simple moving average of $7.56 and a 200 day simple moving average of $6.89.

NexGen Energy (NYSE:NXE) last released 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 period in the previous year, the business posted ($0.04) earnings per share.

Hedge Funds Weigh In On NexGen Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Segra Capital Management LLC grew its holdings in NexGen Energy by 19.8% in 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 last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of NexGen Energy by 792.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after purchasing an additional 6,317,538 shares during the period. Van ECK Associates Corp increased its holdings in shares of NexGen Energy by 50.5% during the 3rd quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company’s stock worth $30,810,000 after purchasing an additional 1,582,705 shares during the period. Mountaineer Partners Management LLC lifted its stake in shares of 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 buying an additional 3,107,214 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC grew its position in NexGen Energy by 18.0% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,022,615 shares of the company’s stock worth $19,738,000 after buying an additional 461,185 shares in the last quarter. Institutional investors and hedge funds 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.