NexGen Energy (NYSEAMERICAN:NXE) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of NexGen Energy (NYSEAMERICAN:NXE) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. They currently have $2.00 price target on the stock.

According to Zacks, “NexGen Energy Ltd. focuses on the acquisition, exploration and development of Canadian uranium projects. The company owns a portfolio of uranium exploration assets primarily in the Athabasca Basin, Saskatchewan, Canada. NexGen Energy Ltd. is based in Vancouver, Canada. “

Shares of NYSEAMERICAN NXE opened at $1.64 on Thursday. NexGen Energy has a twelve month low of $1.35 and a twelve month high of $2.53.

NexGen Energy (NYSEAMERICAN:NXE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04.

A number of hedge funds and other institutional investors have recently modified their holdings of NXE. Raymond James & Associates lifted its stake in NexGen Energy by 236.6% in the fourth quarter. Raymond James & Associates now owns 130,053 shares of the company’s stock valued at $230,000 after buying an additional 91,420 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of NexGen Energy during the fourth quarter worth approximately $42,000. D. E. Shaw & Co. Inc. raised its stake in shares of NexGen Energy by 654.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 453,300 shares of the company’s stock worth $801,000 after purchasing an additional 393,200 shares during the last quarter. Deutsche Bank AG raised its stake in shares of NexGen Energy by 63,606,800.0% during the fourth quarter. Deutsche Bank AG now owns 636,069 shares of the company’s stock worth $1,131,000 after purchasing an additional 636,068 shares during the last quarter. Finally, Dudley & Shanley Inc. raised its stake in shares of NexGen Energy by 9.9% during the first quarter. Dudley & Shanley Inc. now owns 1,091,000 shares of the company’s stock worth $1,764,000 after purchasing an additional 98,000 shares during the last quarter.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration stage company, engages in the acquisition, exploration, and evaluation of uranium properties in Canada. Its principal property is the Rook I project that consists of 32 contiguous mineral claims covering 35,065 hectares located in the southwest Athabasca Basin, Saskatchewan.

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