NexGen Energy (NYSEAMERICAN:NXE) Upgraded to “Buy” by 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 sent to investors on Thursday, Zacks.com reports. Zacks Investment Research currently has $1.50 price target 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. “

Shares of NexGen Energy stock opened at $1.16 on Thursday. NexGen Energy has a 12 month low of $1.10 and a 12 month high of $1.98.

NexGen Energy (NYSEAMERICAN:NXE) last announced its earnings results on Monday, October 28th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01.

A number of institutional investors have recently made changes to their positions in the stock. Dudley & Shanley Inc. boosted its holdings in NexGen Energy by 1.8% during the 3rd quarter. Dudley & Shanley Inc. now owns 1,122,500 shares of the company’s stock valued at $1,458,000 after acquiring an additional 20,000 shares during the period. Russell Investments Group Ltd. boosted its holdings 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 valued at $14,192,000 after acquiring an additional 32,676 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in NexGen Energy by 37.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 174,100 shares of the company’s stock valued at $272,000 after acquiring an additional 47,800 shares during the period. Exchange Traded Concepts LLC purchased a new position in NexGen Energy during the 4th quarter valued at about $117,000. Finally, Progeny 3 Inc. boosted its holdings in NexGen Energy by 41.8% during the 3rd quarter. Progeny 3 Inc. now owns 333,120 shares of the company’s stock valued at $433,000 after acquiring an additional 98,230 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: Asset Allocation, Balancing Your Investments

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