Zacks Investment Research Lowers NexGen Energy (NYSEAMERICAN:NXE) to Hold

NexGen Energy (NYSEAMERICAN:NXE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday, 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 traded down $0.01 during trading on Friday, reaching $1.31. The company had a trading volume of 12,400 shares, compared to its average volume of 337,261. NexGen Energy has a 1-year low of $1.10 and a 1-year high of $2.37.

NexGen Energy (NYSEAMERICAN:NXE) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its stake in NexGen Energy by 0.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,924,243 shares of the company’s stock worth $14,192,000 after purchasing an additional 32,676 shares during the last quarter. Jeneq Management LP acquired a new stake in NexGen Energy during the 2nd quarter worth $2,229,000. Dudley & Shanley Inc. boosted its stake in NexGen Energy by 1.8% during the 3rd quarter. Dudley & Shanley Inc. now owns 1,122,500 shares of the company’s stock worth $1,458,000 after purchasing an additional 20,000 shares during the last quarter. Bank of Montreal Can boosted its stake in NexGen Energy by 3.9% during the 2nd quarter. Bank of Montreal Can now owns 656,706 shares of the company’s stock worth $1,032,000 after purchasing an additional 24,531 shares during the last quarter. Finally, Exane Derivatives boosted its stake in NexGen Energy by 52.6% during the 3rd quarter. Exane Derivatives now owns 435,000 shares of the company’s stock worth $565,000 after purchasing an additional 150,000 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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