UBS Group Begins Coverage on NexGen Energy (NYSE:NXE)

UBS Group began coverage on shares of NexGen Energy (NYSE:NXE) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating on the stock.

A number of other equities research analysts have also commented on NXE. Weiss Ratings restated a “sell (d)” rating on shares of NexGen Energy in a research report on Thursday, January 22nd. Raymond James Financial reissued an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NexGen Energy has an average rating of “Moderate Buy”.

NexGen Energy Stock Down 1.8%

NYSE:NXE traded down $0.23 on Thursday, reaching $12.54. The stock had a trading volume of 3,519,948 shares, compared to its average volume of 9,034,949. The company has a market capitalization of $8.28 billion, a P/E ratio of -30.58 and a beta of 1.41. NexGen Energy has a 1-year low of $3.91 and a 1-year high of $13.96. The stock has a fifty day moving average price of $11.64 and a 200-day moving average price of $9.60.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NXE. Versant Capital Management Inc increased its stake in shares of NexGen Energy by 287,500.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock valued at $26,000 after buying an additional 2,875 shares during the period. CWM LLC acquired a new position in shares of NexGen Energy during the third quarter valued at $41,000. Olympiad Research LP bought a new position in NexGen Energy in the second quarter valued at about $73,000. SBI Securities Co. Ltd. increased its position in NexGen Energy by 454.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 7,965 shares of the company’s stock worth $73,000 after purchasing an additional 6,528 shares during the period. Finally, Flow Traders U.S. LLC bought a new stake in NexGen Energy during the 2nd quarter worth about $76,000. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.