NexGen Energy Ltd. (NYSE:NXE) Receives Average Recommendation of “Strong Buy” from Analysts

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

A number of brokerages have recently commented on NXE. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Canada upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Stifel Nicolaus began coverage on NexGen Energy in a research note on Wednesday. They set a “buy” rating for the company.

NexGen Energy Price Performance

Shares of NexGen Energy stock opened at $4.69 on Thursday. The firm’s fifty day simple moving average is $6.13 and its 200-day simple moving average is $6.77. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 31.24 and a beta of 1.97. NexGen Energy has a 12 month low of $4.44 and a 12 month high of $8.96.

Institutional Investors Weigh In On NexGen Energy

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of NexGen Energy by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company’s stock valued at $101,000 after buying an additional 1,500 shares during the period. Invesco Ltd. lifted its holdings in shares of NexGen Energy by 6.7% in the 4th quarter. Invesco Ltd. now owns 26,399 shares of the company’s stock valued at $174,000 after buying an additional 1,656 shares during the period. Cetera Investment Advisers lifted its holdings in shares of NexGen Energy by 2.6% in the 4th quarter. Cetera Investment Advisers now owns 104,611 shares of the company’s stock valued at $690,000 after buying an additional 2,648 shares during the period. Investment Management Corp of Ontario lifted its holdings in shares of NexGen Energy by 14.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 25,070 shares of the company’s stock valued at $164,000 after buying an additional 3,200 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of NexGen Energy by 22.8% in the 4th quarter. Hsbc Holdings PLC now owns 18,729 shares of the company’s stock valued at $124,000 after buying an additional 3,473 shares during the period. Hedge funds and other institutional investors own 42.43% of the company’s stock.

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.