NexGen Energy (NYSE:NXE) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of NexGen Energy (NYSE:NXE) from a sell rating to a strong sell rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also commented on the stock. JPMorgan Chase & Co. started coverage on shares of NexGen Energy in a research report on Monday, September 21st. They set an “overweight” rating and a $14.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a report on Friday, August 28th. Finally, Jefferies Financial Group started coverage on shares of NexGen Energy in a report on Thursday, September 3rd. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

NexGen Energy Stock Performance

Shares of NXE opened at $8.37 on Friday. The company’s fifty day moving average is $9.82 and its 200 day moving average is $10.41. NexGen Energy has a fifty-two week low of $7.33 and a fifty-two week high of $13.96. The stock has a market capitalization of $5.60 billion, a PE ratio of -20.91 and a beta of 1.45.

Institutional Investors Weigh In On NexGen Energy

Several institutional investors have recently modified their holdings of NXE. Vontobel Holding Ltd. boosted its holdings in shares of NexGen Energy by 595.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 206,381 shares of the company’s stock worth $1,881,000 after purchasing an additional 176,705 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of NexGen Energy by 19.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 200,800 shares of the company’s stock valued at $1,779,000 after purchasing an additional 32,374 shares during the last quarter. Rye Brook Capital LLC increased its position in shares of NexGen Energy by 3.0% during the 3rd quarter. Rye Brook Capital LLC now owns 804,650 shares of the company’s stock valued at $7,338,000 after purchasing an additional 23,350 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in NexGen Energy during the 2nd quarter valued at $62,000. Finally, Amundi raised its holdings in NexGen Energy by 45.0% during the 2nd quarter. Amundi now owns 3,020,476 shares of the company’s stock valued at $28,362,000 after buying an additional 936,908 shares during the period. 42.43% of the stock is owned by institutional investors.

About NexGen Energy

NexGen Energy Ltd. is a mineral exploration and development company focused on uranium assets in the Athabasca Basin of Saskatchewan, Canada. The company’s primary project is the Rook I property, which hosts the Arrow uranium deposit in the western Athabasca Basin.

NexGen is advancing Rook I through exploration, technical studies, permitting and development activities. Its work includes drilling, resource evaluation, environmental assessment and infrastructure planning related to the potential future production of uranium.