NexGen Energy (NYSE:NXE) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of NexGen Energy (NYSE:NXE) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $14.00 price target on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a report on Friday, August 28th. Jefferies Financial Group initiated coverage on NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, NexGen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

NexGen Energy Price Performance

NXE opened at $9.63 on Monday. The stock has a market cap of $6.45 billion, a P/E ratio of -24.09 and a beta of 1.40. The stock’s 50 day simple moving average is $10.00 and its 200 day simple moving average is $10.76. NexGen Energy has a 1-year low of $7.33 and a 1-year high of $13.96.

Institutional Investors Weigh In On NexGen Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in NexGen Energy during the second quarter worth $62,000. Amundi lifted its position in shares of NexGen Energy by 45.0% in the second quarter. Amundi now owns 3,020,476 shares of the company’s stock valued at $28,362,000 after acquiring an additional 936,908 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of NexGen Energy by 139.1% in the second quarter. HighTower Advisors LLC now owns 162,508 shares of the company’s stock valued at $1,526,000 after acquiring an additional 94,537 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of NexGen Energy by 5.9% during the second quarter. TD Waterhouse Canada Inc. now owns 168,426 shares of the company’s stock valued at $1,591,000 after acquiring an additional 9,354 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of NexGen Energy during the second quarter valued at $532,000. Hedge funds and other institutional investors own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing mineral projects in the Athabasca Basin of Saskatchewan, Canada. The company’s primary asset is the Rook I project, which includes the Arrow uranium deposit and other prospective discoveries.

NexGen is working to develop Rook I into a large-scale uranium mining operation through exploration, resource evaluation, environmental studies, permitting and project planning. The company is not primarily a uranium producer; its activities are centered on discovering and advancing uranium resources for potential future development.

Founded in 2011, NexGen Energy is headquartered in Vancouver, British Columbia, and its operations are focused in Saskatchewan’s Athabasca Basin, one of the world’s major uranium-producing regions.