NexGen Energy (NYSE:NXE) Stock Rating Upgraded by Wall Street Zen

NexGen Energy (NYSE:NXE) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other research firms have also issued reports on NXE. Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research note on Friday, August 28th. JPMorgan Chase & Co. initiated coverage on shares of NexGen Energy in a report on Monday, September 21st. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Jefferies Financial Group began coverage on shares of NexGen Energy in a report on Thursday, September 3rd. They set a “buy” rating for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NexGen Energy presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

NexGen Energy Trading Up 2.0%

Shares of NXE stock opened at $8.31 on Friday. NexGen Energy has a 12 month low of $7.33 and a 12 month high of $13.96. The business’s 50 day moving average is $9.60 and its two-hundred day moving average is $10.81.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NXE. Amundi grew its stake in shares of NexGen Energy by 45.0% in the second quarter. Amundi now owns 3,020,476 shares of the company’s stock worth $28,362,000 after acquiring an additional 936,908 shares during the last quarter. Wellington Management Group LLP bought a new position in NexGen Energy during the second quarter worth $4,507,000. Bank of America Corp DE acquired a new position in NexGen Energy during the 2nd quarter valued at $13,674,000. Janus Henderson Group PLC raised its stake in NexGen Energy by 107.0% during the 1st quarter. Janus Henderson Group PLC now owns 799,183 shares of the company’s stock valued at $9,248,000 after purchasing an additional 413,061 shares during the last quarter. Finally, Ninepoint Partners LP acquired a new position in NexGen Energy during the 2nd quarter valued at $3,333,000. 42.43% of the stock is owned by institutional investors.

NexGen Energy Company Profile

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing projects in the Athabasca Basin of Saskatchewan, Canada. The company’s primary asset is the 100%-owned Rook I property, which hosts the Arrow uranium deposit and other discoveries.

NexGen’s main objective is to develop Rook I into a large-scale uranium mining and processing operation. The company conducts exploration, resource evaluation, engineering, environmental assessment and project permitting activities, rather than currently selling uranium or operating a producing mine.