NexGen Energy (NYSE:NXE) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of NexGen Energy (NYSE:NXE) in a report released on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating on the stock.

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

NexGen Energy Trading Up 1.4 %

NexGen Energy stock opened at $4.81 on Wednesday. NexGen Energy has a 12 month low of $4.44 and a 12 month high of $8.96. The stock’s 50 day simple moving average is $6.23 and its two-hundred day simple moving average is $6.79. The firm has a market cap of $2.73 billion, a PE ratio of 32.04 and a beta of 1.97.

Institutional Inflows and Outflows

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