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

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

Several other analysts have also commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th. Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, NexGen Energy has a consensus rating of “Strong Buy”.

NexGen Energy Stock Performance

Shares of NXE stock opened at $4.81 on Tuesday. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 32.04 and a beta of 1.97. NexGen Energy has a 52 week low of $4.44 and a 52 week high of $8.96. The firm’s 50-day simple moving average is $6.23 and its two-hundred day simple moving average is $6.79.

Institutional Trading of NexGen Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NexGen Energy by 1.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,018,623 shares of the company’s stock valued at $230,828,000 after purchasing an additional 501,952 shares during the period. Vanguard Group Inc. increased its holdings in NexGen Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,436,513 shares of the company’s stock worth $134,779,000 after acquiring an additional 298,106 shares during the period. Segra Capital Management LLC increased its holdings in NexGen Energy by 19.8% during 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 during the period. Nuveen Asset Management LLC increased its holdings in NexGen Energy by 1.0% during the 4th quarter. Nuveen Asset Management LLC now owns 8,747,305 shares of the company’s stock worth $57,659,000 after acquiring an additional 82,413 shares during the period. Finally, Van ECK Associates Corp increased its holdings in NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock worth $55,971,000 after acquiring an additional 3,762,756 shares during the period. 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.