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

NexGen Energy (NYSE:NXE) was upgraded by equities researchers at Stifel Canada to a “strong-buy” rating in a research note issued on Tuesday,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 assumed coverage on NexGen Energy in a research note on Wednesday. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NexGen Energy currently has a consensus rating of “Strong Buy”.

NexGen Energy Price Performance

NXE stock opened at $4.81 on Tuesday. The company has a market cap of $2.73 billion, a P/E ratio of 32.04 and a beta of 1.97. NexGen Energy has a 1 year low of $4.44 and a 1 year high of $8.96. The stock’s fifty day moving average price is $6.23 and its 200-day moving average price is $6.79.

Hedge Funds Weigh In On NexGen Energy

A number of institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in 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 purchasing an additional 1,500 shares during the period. Invesco Ltd. raised its holdings in NexGen Energy by 6.7% during 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 during the period. Cetera Investment Advisers raised its holdings in NexGen Energy by 2.6% during 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 during the period. Investment Management Corp of Ontario raised its holdings 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 valued at $164,000 after acquiring an additional 3,200 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in NexGen Energy by 22.8% during 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 during the period. 42.43% of the stock is owned by institutional investors.

About NexGen Energy

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.