NexGen Energy FY2024 EPS Forecast Boosted by Raymond James

NexGen Energy Ltd. (NYSE:NXE) – Research analysts at Raymond James increased their FY2024 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 earn ($0.05) per share for the year, up from their prior 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 quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same quarter in the prior year, the firm earned ($0.04) EPS.

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

NexGen Energy Stock Performance

NXE stock opened at $8.48 on Monday. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 56.50 and a beta of 1.90. The firm has a 50 day moving average price of $7.04 and a 200-day moving average price of $6.85. NexGen Energy has a 52-week low of $4.95 and a 52-week high of $8.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. L1 Capital Pty Ltd lifted its stake in shares of NexGen Energy by 6.3% in the 1st quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock worth $187,127,000 after purchasing an additional 1,423,317 shares during the period. Vanguard Group Inc. lifted its position in shares of NexGen Energy by 5,020.5% during the 1st quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock valued at $126,047,000 after buying an additional 15,905,444 shares in the last quarter. Segra Capital Management LLC grew its stake 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 acquiring an additional 1,931,200 shares during the period. The Manufacturers Life Insurance Company increased its holdings in NexGen Energy by 792.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after acquiring an additional 6,317,538 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in 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 acquiring an additional 1,582,705 shares during the period. 42.43% of the stock is owned by institutional investors.

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.