NexGen Energy (NYSE:NXE) Stock Rating Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded NexGen Energy’s rating from “strong sell” to “sell,” while analyst sentiment overall remains more favorable, with five Buy ratings and one Sell rating producing a “Moderate Buy” consensus and a $14.00 average price target.
• NexGen shares opened at $8.14, versus a 12-month range of $7.33 to $13.96; the company has a $5.45 billion market capitalization and negative earnings reflected in a -20.35 price-to-earnings ratio.
• Institutional investors own 42.43% of NexGen, with firms including Amundi, Janus Henderson, Bank of America and Wellington Management recently increasing or initiating positions. NexGen is developing the Rook I uranium project in Saskatchewan and is not yet a producing miner.

NexGen Energy (NYSE:NXE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Sunday, Wall Street Zen reports.

Several other research analysts have also weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of NexGen Energy in a report on Friday, August 28th. Jefferies Financial Group initiated coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of NexGen Energy in a research report on Monday, September 21st. They set an "overweight" rating and a $14.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, NexGen Energy currently has an average rating of "Moderate Buy" and an average target price of $14.00.

NexGen Energy Price Performance

NYSE NXE opened at $8.14 on Friday. NexGen Energy has a 12 month low of $7.33 and a 12 month high of $13.96. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -20.35 and a beta of 1.45. The firm's fifty day moving average price is $9.61 and its 200 day moving average price is $10.30.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently bought and sold shares of the stock. Amundi grew its stake in NexGen Energy by 45.0% in the 2nd quarter. Amundi now owns 3,020,476 shares of the company's stock valued at $28,362,000 after buying an additional 936,908 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of NexGen Energy in the second quarter worth $4,507,000. Bank of America Corp DE bought a new position in NexGen Energy during the second quarter worth $13,674,000. Janus Henderson Group PLC raised its stake in NexGen Energy by 107.0% during the 1st quarter. Janus Henderson Group PLC now owns 799,183 shares of the company's stock valued at $9,248,000 after purchasing an additional 413,061 shares during the last quarter. Finally, Ninepoint Partners LP bought a new stake in NexGen Energy in the 2nd quarter valued at $3,333,000. Institutional investors and hedge funds own 42.43% of the company's stock.

NexGen Energy Company Profile

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing projects in the Athabasca Basin of Saskatchewan, Canada. The company's primary asset is the 100%-owned Rook I property, which hosts the Arrow uranium deposit and other discoveries.

NexGen's main objective is to develop Rook I into a large-scale uranium mining and processing operation. The company conducts exploration, resource evaluation, engineering, environmental assessment and project permitting activities, rather than currently selling uranium or operating a producing mine.

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