NexGen Energy (NYSE:NXE) Upgraded by Stifel Canada to Strong-Buy Rating

NexGen Energy (NYSE:NXE) was upgraded by equities research analysts at Stifel Canada to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus assumed coverage on NexGen Energy in a research report on Wednesday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, NexGen Energy currently has a consensus rating of “Strong Buy”.

NexGen Energy Price Performance

NXE opened at $4.81 on Tuesday. The business has a 50 day simple moving average of $6.23 and a two-hundred day simple moving average of $6.79. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 32.04 and a beta of 1.97. NexGen Energy has a one year low of $4.44 and a one year high of $8.96.

Institutional Trading of NexGen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in shares of NexGen Energy by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock worth $101,000 after buying an additional 1,500 shares during the last quarter. Invesco Ltd. grew its stake in shares of NexGen Energy by 6.7% in the 4th quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock worth $174,000 after buying an additional 1,656 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of NexGen Energy by 2.6% in the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock worth $690,000 after buying an additional 2,648 shares during the last quarter. Investment Management Corp of Ontario grew its stake in shares of NexGen Energy by 14.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock worth $164,000 after buying an additional 3,200 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of NexGen Energy by 22.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock worth $124,000 after buying an additional 3,473 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.