NexGen Energy (NYSE:NXE) Stock Rating Upgraded by Stifel Canada

NexGen Energy (NYSE:NXE) was upgraded by equities researchers at Stifel Canada to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

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

NexGen Energy Trading Up 1.4 %

NYSE:NXE opened at $4.81 on Tuesday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 32.04 and a beta of 1.97. The firm 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.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of NexGen Energy by 284.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company’s stock valued at $33,000 after buying an additional 3,700 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in NexGen Energy during the fourth quarter worth about $51,000. Mariner LLC purchased a new position in NexGen Energy during the fourth quarter worth about $68,000. Larson Financial Group LLC boosted its holdings in NexGen Energy by 122.7% during the third quarter. Larson Financial Group LLC now owns 10,575 shares of the company’s stock worth $69,000 after purchasing an additional 5,827 shares during the last quarter. Finally, Silver Lake Advisory LLC purchased a new position in NexGen Energy during the fourth quarter worth about $73,000. 42.43% of the stock is currently owned by institutional investors and hedge funds.

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.