Stifel Nicolaus Initiates Coverage on NexGen Energy (NYSE:NXE)

Investment analysts at Stifel Nicolaus assumed coverage on shares of NexGen Energy (NYSE:NXE) in a research note issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating on the stock.

Separately, Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a report on Thursday, March 6th. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

NexGen Energy Stock Performance

Shares of NXE stock opened at $4.75 on Wednesday. The company has a market capitalization of $2.70 billion, a PE ratio of 31.64 and a beta of 1.97. NexGen Energy has a 52-week low of $4.44 and a 52-week high of $8.96. The business’s fifty day moving average is $6.27 and its 200 day moving average is $6.81.

Institutional Trading of NexGen Energy

Several institutional investors and hedge funds have recently made changes to their positions in NXE. The Manufacturers Life Insurance Company lifted its stake in NexGen Energy by 792.0% during the third quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after purchasing an additional 6,317,538 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NexGen Energy by 222.6% during the 4th quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company’s stock valued at $41,882,000 after buying an additional 4,378,933 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of NexGen Energy by 79.7% during the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company’s stock valued at $55,971,000 after buying an additional 3,762,756 shares in the last quarter. Mountaineer Partners Management LLC lifted its position in NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock worth $24,071,000 after buying an additional 3,107,214 shares during the last quarter. Finally, Segra Capital Management LLC boosted its stake in NexGen Energy by 19.8% in the third quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock worth $76,217,000 after buying an additional 1,931,200 shares in the last quarter. 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.