NexGen Energy (NYSEAMERICAN:NXE) Rating Increased 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 report report published on Thursday, Zacks.com reports. Zacks Investment Research currently has $2.00 target price 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. “

NXE opened at $1.64 on Thursday. NexGen Energy has a twelve month low of $1.35 and a twelve month high of $2.53.

NexGen Energy (NYSEAMERICAN:NXE) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04.

A number of institutional investors have recently bought and sold shares of NXE. State of Tennessee Treasury Department boosted its stake in NexGen Energy by 33.9% in the 1st quarter. State of Tennessee Treasury Department now owns 4,080,859 shares of the company’s stock worth $6,598,000 after purchasing an additional 1,032,943 shares during the period. Deutsche Bank AG boosted its stake in shares of NexGen Energy by 63,606,800.0% during the 4th quarter. Deutsche Bank AG now owns 636,069 shares of the company’s stock valued at $1,131,000 after buying an additional 636,068 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of NexGen Energy during the 1st quarter valued at $1,208,000. D. E. Shaw & Co. Inc. boosted its stake in shares of NexGen Energy by 654.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 453,300 shares of the company’s stock valued at $801,000 after buying an additional 393,200 shares during the period. Finally, Dudley & Shanley Inc. boosted its stake in shares of NexGen Energy by 9.9% during the 1st quarter. Dudley & Shanley Inc. now owns 1,091,000 shares of the company’s stock valued at $1,764,000 after buying an additional 98,000 shares during the period.

About NexGen Energy

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.

Further Reading: Diversification

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