NexGen Energy (NYSE:NXE) Receives New Coverage from Analysts at Scotiabank

Scotiabank began coverage on shares of NexGen Energy (NYSE:NXEFree Report) in a report released on Monday, MarketBeat reports. The firm issued a sector outperform rating on the stock.

NexGen Energy Price Performance

Shares of NXE opened at $8.43 on Monday. NexGen Energy has a 1 year low of $3.49 and a 1 year high of $8.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 11.00 and a quick ratio of 11.00. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 421.71 and a beta of 1.90. The business has a 50-day moving average of $7.50 and a 200-day moving average of $6.67.

NexGen Energy (NYSE:NXEGet Free Report) last issued its earnings results on Wednesday, March 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.05). As a group, equities research analysts anticipate that NexGen Energy will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in NexGen Energy in the third quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new stake in NexGen Energy in the first quarter valued at approximately $35,000. Advisor Group Holdings Inc. grew its stake in NexGen Energy by 56.3% in the first quarter. Advisor Group Holdings Inc. now owns 7,498 shares of the company’s stock valued at $42,000 after acquiring an additional 2,700 shares during the period. Canton Hathaway LLC acquired a new stake in NexGen Energy in the third quarter valued at approximately $44,000. Finally, Toroso Investments LLC acquired a new stake in NexGen Energy in the fourth quarter valued at approximately $48,000. 42.43% of the stock is currently owned by institutional investors.

About NexGen Energy

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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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.

Further Reading

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