Raymond James Predicts Stronger Earnings for NexGen Energy

NexGen Energy Ltd. (NYSE:NXE) – Equities research analysts at Raymond James raised their FY2024 earnings estimates for shares of NexGen Energy in a research note issued on Wednesday, November 13th. Raymond James analyst B. Macarthur now forecasts that the company will post earnings of ($0.05) 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 ($0.06) per share.

Separately, National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NexGen Energy has a consensus rating of “Strong Buy” and a consensus price target of $11.00.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $7.38 on Monday. NexGen Energy has a 12 month low of $4.95 and a 12 month high of $8.88. The company has a 50 day simple moving average of $6.93 and a two-hundred day simple moving average of $6.85. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 49.20 and a beta of 1.90.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same quarter last year, the business posted ($0.04) EPS.

Hedge Funds Weigh In On NexGen Energy

Several large investors have recently made changes to their positions in the company. Segra Capital Management LLC lifted its stake in shares of 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 purchasing an additional 1,931,200 shares during the period. Barclays PLC increased its holdings in NexGen Energy by 328.3% in the 3rd quarter. Barclays PLC now owns 187,861 shares of the company’s stock worth $1,227,000 after acquiring an additional 143,996 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in NexGen Energy in the 3rd quarter worth $852,000. Y Intercept Hong Kong Ltd purchased a new stake in NexGen Energy in the 3rd quarter worth $796,000. Finally, National Bank of Canada FI increased its holdings in NexGen Energy by 158.9% in the 3rd quarter. National Bank of Canada FI now owns 469,893 shares of the company’s stock worth $3,066,000 after acquiring an additional 288,418 shares in the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

NexGen Energy Company Profile

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.