NexGen Energy (NYSEAMERICAN:NXE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of NexGen Energy (NYSEAMERICAN:NXE) from a buy rating to a hold rating in a research report released on Saturday morning, Zacks.com reports.

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 $1.31 on Friday. NexGen Energy has a one year low of $1.10 and a one year high of $2.37.

NexGen Energy (NYSEAMERICAN:NXE) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01).

Institutional investors and hedge funds have recently modified their holdings of the company. Signition LP bought a new position in shares of NexGen Energy in the 2nd quarter valued at $73,000. UBS Asset Management Americas Inc. increased its stake in shares of NexGen Energy by 37.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 174,100 shares of the company’s stock valued at $272,000 after purchasing an additional 47,800 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of NexGen Energy by 4.8% in the 2nd quarter. Toronto Dominion Bank now owns 183,796 shares of the company’s stock valued at $285,000 after purchasing an additional 8,501 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of NexGen Energy by 14.2% in the 2nd quarter. CIBC Asset Management Inc now owns 184,756 shares of the company’s stock valued at $288,000 after purchasing an additional 22,946 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of NexGen Energy by 34.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 187,881 shares of the company’s stock valued at $295,000 after purchasing an additional 48,629 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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