NexGen Energy (NYSEAMERICAN:NXE) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of NexGen Energy (NYSEAMERICAN:NXE) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has $2.00 price target on the stock.

According to Zacks, “NexGen Energy Ltd. focuses on the acquisition, exploration and development of Canadian uranium projects. The company owns a portfolio of uranium exploration assets primarily in the Athabasca Basin, Saskatchewan, Canada. NexGen Energy Ltd. is based in Vancouver, Canada. “

NexGen Energy stock opened at $1.64 on Thursday. NexGen Energy has a fifty-two week low of $1.35 and a fifty-two week high of $2.53.

NexGen Energy (NYSEAMERICAN:NXE) last posted its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.04.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. acquired a new stake in shares of NexGen Energy during the fourth quarter valued at $42,000. Creative Planning acquired a new stake in shares of NexGen Energy during the first quarter valued at $41,000. Raymond James & Associates boosted its stake in shares of NexGen Energy by 236.6% during the fourth quarter. Raymond James & Associates now owns 130,053 shares of the company’s stock valued at $230,000 after acquiring an additional 91,420 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of NexGen Energy by 17.4% during the first quarter. Toronto Dominion Bank now owns 175,295 shares of the company’s stock valued at $283,000 after acquiring an additional 25,958 shares during the last quarter. Finally, Exane Derivatives boosted its stake in shares of NexGen Energy by 24.0% during the first quarter. Exane Derivatives now owns 222,000 shares of the company’s stock valued at $359,000 after acquiring an additional 43,000 shares during the last quarter.

NexGen Energy Company Profile

NexGen Energy Ltd., an exploration stage company, engages in the acquisition, exploration, and evaluation of uranium properties in Canada. Its principal property is the Rook I project that consists of 32 contiguous mineral claims covering 35,065 hectares located in the southwest Athabasca Basin, Saskatchewan.

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