Raymond James Boosts Earnings Estimates for NexGen Energy

NexGen Energy Ltd. (NYSE:NXE) – Equities research analysts at Raymond James upped their FY2024 earnings per share (EPS) estimates for NexGen Energy in a note issued to investors on Wednesday, November 13th. Raymond James analyst B. Macarthur now anticipates that the company will post earnings per share of ($0.05) for the year, up from their previous forecast of ($0.09). The consensus estimate for NexGen Energy’s current full-year earnings is ($0.06) per share.

NexGen Energy (NYSE:NXE) last issued 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 period last year, the company earned ($0.04) EPS.

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

NexGen Energy Trading Up 7.5 %

Shares of NYSE NXE opened at $7.93 on Monday. The firm’s 50-day moving average price is $6.98 and its 200-day moving average price is $6.85. The firm has a market capitalization of $4.48 billion, a P/E ratio of 52.87 and a beta of 1.90. NexGen Energy has a 1-year low of $4.95 and a 1-year high of $8.88.

Institutional Investors Weigh In On NexGen Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in NexGen Energy by 719.6% during the third quarter. Toronto Dominion Bank now owns 180,140 shares of the company’s stock worth $1,176,000 after buying an additional 158,160 shares in the last quarter. Segra Capital Management LLC grew 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 worth $76,217,000 after acquiring an additional 1,931,200 shares in the last quarter. Barclays PLC raised its holdings in shares of NexGen Energy by 328.3% in the third quarter. Barclays PLC now owns 187,861 shares of the company’s stock valued at $1,227,000 after purchasing an additional 143,996 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of NexGen Energy during the third quarter valued at about $852,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of NexGen Energy during the third quarter valued at about $796,000. 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.