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

Stifel Canada upgraded shares of NexGen Energy (NYSE:NXE) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other equities analysts also recently issued reports on NXE. Scotiabank restated an “outperform” rating on shares of NexGen Energy in a research note on Thursday, March 6th. Stifel Nicolaus started coverage on NexGen Energy in a research note on Wednesday. They issued a “buy” rating on the stock. Two analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy”.

NexGen Energy Trading Up 1.4 %

NexGen Energy 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. The stock has a fifty day simple moving average of $6.23 and a two-hundred day simple moving average of $6.79. NexGen Energy has a 12 month low of $4.44 and a 12 month high of $8.96.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in NexGen Energy by 10.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock valued at $101,000 after purchasing an additional 1,500 shares in the last quarter. Invesco Ltd. lifted its position in shares of NexGen Energy by 6.7% in the fourth quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock valued at $174,000 after acquiring an additional 1,656 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of NexGen Energy by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock valued at $690,000 after acquiring an additional 2,648 shares in the last quarter. Investment Management Corp of Ontario lifted its position in shares of NexGen Energy by 14.6% in the third quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock valued at $164,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of NexGen Energy by 22.8% in the fourth quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock valued at $124,000 after acquiring an additional 3,473 shares in the last quarter. 42.43% of the stock is currently owned by hedge funds and other institutional investors.

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.