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

Stifel Canada upgraded shares of NexGen Energy (NYSE:NXE) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

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

NexGen Energy Stock Down 2.4 %

NXE opened at $4.70 on Tuesday. The business has a fifty day moving average of $6.18 and a 200 day moving average of $6.78. NexGen Energy has a 52-week low of $4.44 and a 52-week high of $8.96. The stock has a market cap of $2.67 billion, a P/E ratio of 31.30 and a beta of 1.97.

Institutional Investors Weigh In On NexGen Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. PKO Investment Management Joint Stock Co bought a new stake in NexGen Energy during the 4th quarter valued at $574,000. Mackenzie Financial Corp raised its position in NexGen Energy by 15.5% during the 4th quarter. Mackenzie Financial Corp now owns 230,524 shares of the company’s stock valued at $1,519,000 after purchasing an additional 31,002 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in NexGen Energy by 3.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 134,655 shares of the company’s stock valued at $888,000 after purchasing an additional 4,176 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NexGen Energy by 38.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 623,857 shares of the company’s stock valued at $4,117,000 after purchasing an additional 172,499 shares in the last quarter. Finally, Tidal Investments LLC raised its position in NexGen Energy by 100.3% during the 4th quarter. Tidal Investments LLC now owns 62,617 shares of the company’s stock valued at $413,000 after purchasing an additional 31,362 shares in the last quarter. 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.