NexGen Energy (NYSE:NXE) Rating Increased to Hold at Zacks Research

Key Points

• NexGen Energy's stock rating has been upgraded from "strong sell" to "hold" by Zacks Research, reflecting a shift in analyst sentiment.
• The current consensus rating for NexGen Energy is "Moderate Buy", with one Strong Buy, five Buy, one Hold, and one Sell rating from various analysts.
• NexGen Energy's stock price has risen 4.4% recently, and it has a market capitalization of $5.39 billion as of the latest trading session.

NexGen Energy (NYSE:NXE - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reissued an "outperform" rating on shares of NexGen Energy in a research report on Friday. Weiss Ratings reissued a "sell (d)" rating on shares of NexGen Energy in a research report on Wednesday, October 8th. Finally, TD Securities reissued a "buy" rating on shares of NexGen Energy in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

NexGen Energy Stock Up 4.4%

NYSE:NXE opened at $9.37 on Monday. The company has a market cap of $5.39 billion, a P/E ratio of -37.50 and a beta of 1.44. NexGen Energy has a fifty-two week low of $3.91 and a fifty-two week high of $9.80. The firm's 50 day moving average is $7.96 and its two-hundred day moving average is $6.64.

NexGen Energy (NYSE:NXE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). Research analysts forecast that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

A number of large investors have recently added to or reduced their stakes in NXE. Packer & Co Ltd acquired a new stake in NexGen Energy during the 1st quarter valued at $13,581,000. Cambridge Investment Research Advisors Inc. grew its holdings in NexGen Energy by 11.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,726 shares of the company's stock valued at $178,000 after purchasing an additional 4,075 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in NexGen Energy by 2.2% during the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,472,899 shares of the company's stock valued at $6,613,000 after purchasing an additional 32,025 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in NexGen Energy by 7.7% during the 1st quarter. Bank of New York Mellon Corp now owns 2,021,300 shares of the company's stock worth $9,076,000 after acquiring an additional 144,742 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in NexGen Energy by 64.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 202,953 shares of the company's stock worth $911,000 after acquiring an additional 79,314 shares in the last quarter. 42.43% of the stock is owned by institutional investors and hedge funds.

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.

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