NexGen Energy (NYSE:NXE) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of NexGen Energy (NYSE:NXE) from a strong sell rating to a sell rating in a research note released on Saturday.

A number of other research analysts have also commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NexGen Energy in a report on Tuesday, June 2nd. Scotiabank reissued an “outperform” rating on shares of NexGen Energy in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NexGen Energy presently has an average rating of “Hold”.

NexGen Energy Stock Up 1.8%

Shares of NYSE NXE opened at $10.41 on Friday. The firm has a market cap of $6.97 billion, a PE ratio of -26.04 and a beta of 1.40. The business has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $11.22. NexGen Energy has a fifty-two week low of $6.26 and a fifty-two week high of $13.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NXE. Chicago Partners Investment Group LLC bought a new stake in shares of NexGen Energy during the fourth quarter worth approximately $1,641,000. Vanguard Group Inc. increased its stake in NexGen Energy by 15.5% during the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $226,901,000 after purchasing an additional 3,304,071 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of NexGen Energy by 107.0% during the first quarter. Janus Henderson Group PLC now owns 799,183 shares of the company’s stock worth $9,248,000 after acquiring an additional 413,061 shares during the period. Amundi lifted its holdings in shares of NexGen Energy by 167.0% in the first quarter. Amundi now owns 2,083,568 shares of the company’s stock valued at $24,169,000 after purchasing an additional 1,303,093 shares in the last quarter. Finally, Acasta Partners UK LLP boosted its position in NexGen Energy by 96.7% during the 2nd quarter. Acasta Partners UK LLP now owns 131,787 shares of the company’s stock worth $1,237,000 after acquiring an additional 64,787 shares during the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.