NexGen Energy (NYSE:NXE) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of NexGen Energy (NYSE:NXE) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $14.00 price target on the stock.

NXE has been the topic of a number of other reports. Wall Street Zen raised shares of NexGen Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Jefferies Financial Group assumed coverage on NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NexGen Energy in a research note on Friday, August 28th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

NexGen Energy Stock Performance

Shares of NYSE NXE opened at $9.83 on Monday. NexGen Energy has a fifty-two week low of $7.33 and a fifty-two week high of $13.96. The firm’s 50-day simple moving average is $9.98 and its 200 day simple moving average is $10.80. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of -24.57 and a beta of 1.40.

Institutional Trading of NexGen Energy

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its position in NexGen Energy by 107.0% in the first quarter. Janus Henderson Group PLC now owns 799,183 shares of the company’s stock valued at $9,248,000 after purchasing an additional 413,061 shares during the last quarter. Amundi raised its stake in shares of NexGen Energy by 167.0% during the first quarter. Amundi now owns 2,083,568 shares of the company’s stock valued at $24,169,000 after acquiring an additional 1,303,093 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of NexGen Energy by 96.5% during the first quarter. Temasek Holdings Private Ltd now owns 2,436,471 shares of the company’s stock valued at $28,263,000 after acquiring an additional 1,196,263 shares during the last quarter. Ninepoint Partners LP purchased a new stake in NexGen Energy in the 2nd quarter worth approximately $3,333,000. Finally, Acasta Partners UK LLP lifted its stake in NexGen Energy by 96.7% in the second 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 period. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd. is a Canadian uranium exploration and development company focused on advancing mineral projects in the Athabasca Basin of Saskatchewan, Canada. The company’s primary asset is the Rook I project, which includes the Arrow uranium deposit and other prospective discoveries.

NexGen is working to develop Rook I into a large-scale uranium mining operation through exploration, resource evaluation, environmental studies, permitting and project planning. The company is not primarily a uranium producer; its activities are centered on discovering and advancing uranium resources for potential future development.

Founded in 2011, NexGen Energy is headquartered in Vancouver, British Columbia, and its operations are focused in Saskatchewan’s Athabasca Basin, one of the world’s major uranium-producing regions.