NexGen Energy (NYSE:NXE) Rating Increased to Strong-Buy at Stifel Canada

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

NXE has been the topic of several other reports. Stifel Nicolaus assumed coverage on NexGen Energy in a report on Wednesday. They issued a “buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Strong Buy”.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $4.81 on Tuesday. The business’s 50 day moving average price is $6.23 and its 200-day moving average price is $6.79. NexGen Energy has a fifty-two week low of $4.44 and a fifty-two week high of $8.96. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 32.04 and a beta of 1.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NXE. Old West Investment Management LLC grew its stake in NexGen Energy by 61.4% in the third quarter. Old West Investment Management LLC now owns 1,143,028 shares of the company’s stock worth $7,464,000 after purchasing an additional 434,670 shares in the last quarter. CIBC Asset Management Inc boosted its position in NexGen Energy by 13.4% during the 3rd quarter. CIBC Asset Management Inc now owns 926,314 shares of the company’s stock valued at $6,043,000 after acquiring an additional 109,754 shares in the last quarter. Natixis Advisors LLC boosted its position in NexGen Energy by 39.2% during the 3rd quarter. Natixis Advisors LLC now owns 57,820 shares of the company’s stock valued at $378,000 after acquiring an additional 16,296 shares in the last quarter. Swiss National Bank boosted its position in NexGen Energy by 3.3% during the 3rd quarter. Swiss National Bank now owns 1,048,900 shares of the company’s stock valued at $6,851,000 after acquiring an additional 33,500 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in NexGen Energy by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,450 shares of the company’s stock valued at $6,519,000 after acquiring an additional 19,718 shares in the last quarter. 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.