Brokers Set Expectations for NexGen Energy FY2024 Earnings

NexGen Energy Ltd. (NYSE:NXE) – Equities research analysts at National Bank Financial boosted their FY2024 earnings estimates for NexGen Energy in a research note issued to investors on Tuesday, November 19th. National Bank Financial analyst M. Sidibe now expects that the company will post earnings of ($0.04) per share for the year, up from their prior forecast of ($0.08). National Bank Financial currently has a “Strong-Buy” rating on the stock. The consensus estimate for NexGen Energy’s current full-year earnings is ($0.06) per share. National Bank Financial also issued estimates for NexGen Energy’s FY2025 earnings at ($0.10) EPS, FY2026 earnings at ($0.10) EPS and FY2027 earnings at ($0.10) EPS.

NexGen Energy Stock Performance

NYSE:NXE opened at $8.73 on Friday. NexGen Energy has a 1 year low of $4.95 and a 1 year high of $8.88. The stock has a fifty day moving average price of $7.15 and a two-hundred day moving average price of $6.88. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 58.17 and a beta of 1.90.

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 analysts’ consensus estimates of ($0.03) by ($0.01). During the same period last year, the firm earned ($0.04) earnings per share.

Institutional Trading of NexGen Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC increased its position in shares of NexGen Energy by 2.3% in the first quarter. Cetera Advisors LLC now owns 81,873 shares of the company’s stock valued at $637,000 after buying an additional 1,874 shares in the last quarter. New Harbor Financial Group LLC increased its holdings in NexGen Energy by 20.0% during the 3rd quarter. New Harbor Financial Group LLC now owns 15,000 shares of the company’s stock valued at $98,000 after acquiring an additional 2,500 shares in the last quarter. Investment Management Corp of Ontario raised its position in NexGen Energy by 14.6% during the third quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock worth $164,000 after acquiring an additional 3,200 shares during the last quarter. Stanley Laman Group Ltd. lifted its holdings in shares of NexGen Energy by 0.7% in the second quarter. Stanley Laman Group Ltd. now owns 480,049 shares of the company’s stock valued at $3,351,000 after purchasing an additional 3,315 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of NexGen Energy by 24.6% in the second quarter. Toronto Dominion Bank now owns 21,980 shares of the company’s stock valued at $153,000 after purchasing an additional 4,338 shares during the last quarter. Hedge funds and other institutional investors own 42.43% of the company’s stock.

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.