NexGen Energy Ltd. (NYSE:NXE) Given Consensus Recommendation of “Strong Buy” by Brokerages

Shares of NexGen Energy Ltd. (NYSE:NXE) have been given an average recommendation of “Strong Buy” by the seven analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company.

A number of equities analysts recently commented on NXE shares. Raymond James reissued an “outperform” rating on shares of NexGen Energy in a research note on Friday, April 4th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research report on Tuesday, March 11th. Stifel Nicolaus began coverage on shares of NexGen Energy in a research report on Wednesday, March 12th. They issued a “buy” rating on the stock. Finally, Scotiabank reiterated an “outperform” rating on shares of NexGen Energy in a research report on Thursday, March 6th.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently modified their holdings of NXE. JPMorgan Chase & Co. raised its holdings in NexGen Energy by 222.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock valued at $41,882,000 after buying an additional 4,378,933 shares during the period. Van ECK Associates Corp raised its stake in shares of NexGen Energy by 79.7% in the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock valued at $55,971,000 after acquiring an additional 3,762,756 shares during the period. Segra Capital Management LLC lifted its holdings in shares of NexGen Energy by 19.8% in the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock worth $76,217,000 after acquiring an additional 1,931,200 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NexGen Energy by 954.8% during the 4th quarter. Bank of New York Mellon Corp now owns 1,876,558 shares of the company’s stock worth $12,385,000 after purchasing an additional 1,698,649 shares during the period. Finally, Marshall Wace LLP grew its holdings in NexGen Energy by 131.8% during the 4th quarter. Marshall Wace LLP now owns 2,224,419 shares of the company’s stock valued at $14,681,000 after purchasing an additional 1,264,655 shares during the last quarter. 42.43% of the stock is owned by institutional investors.

NexGen Energy Stock Up 13.5 %

NXE opened at $4.61 on Monday. The company has a market capitalization of $2.62 billion, a PE ratio of 30.74 and a beta of 2.02. The firm has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $6.61. NexGen Energy has a 52 week low of $3.91 and a 52 week high of $8.96.

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.