NexGen Energy (NYSEAMERICAN:NXE) had its price target raised by research analysts at TD Securities from C$7.00 to C$10.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “buy” rating on the stock.
Several other research analysts have also recently commented on the company. Royal Bank of Canada cut NexGen Energy from an “outperform” rating to a “sector perform” rating and set a C$6.00 target price for the company. in a research report on Wednesday, June 23rd. Raymond James lifted their price objective on NexGen Energy from C$6.25 to C$7.50 and gave the company an “outperform” rating in a report on Tuesday, September 7th. Finally, Zacks Investment Research cut NexGen Energy from a “hold” rating to a “sell” rating in a report on Friday, September 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, NexGen Energy has a consensus rating of “Hold” and an average target price of $6.82.
Shares of NXE traded up $0.15 during trading hours on Wednesday, reaching $5.80. The company’s stock had a trading volume of 218,787 shares, compared to its average volume of 1,928,745. NexGen Energy has a 1-year low of $1.58 and a 1-year high of $6.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 41.31 and a quick ratio of 41.31. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -17.58 and a beta of 2.10.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. grew its holdings in NexGen Energy by 7.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 4,583,560 shares of the company’s stock valued at $18,524,000 after buying an additional 335,560 shares in the last quarter. Guardian Capital Advisors LP acquired a new position in NexGen Energy in the 2nd quarter valued at $52,000. Invesco Ltd. bought a new stake in shares of NexGen Energy during the 2nd quarter valued at $116,000. L1 Capital Pty Ltd bought a new stake in shares of NexGen Energy during the 2nd quarter valued at $47,595,000. Finally, Mountain Lake Investment Management LLC lifted its position in shares of NexGen Energy by 24.5% during the 2nd quarter. Mountain Lake Investment Management LLC now owns 1,525,000 shares of the company’s stock valued at $6,253,000 after acquiring an additional 300,000 shares during the period. 18.24% of the stock is currently owned by hedge funds and other institutional investors.
About NexGen Energy
NexGen Energy Ltd. engages in the acquisition, exploration, and development of uranium properties. Its uranium project portfolio includes Arrow, South Arrow, Harpoon, Rook I, IsoEnergy, and SW1 property. The company was founded by Leigh B. Curyer on March 8, 2011 and is headquartered in Vancouver, Canada.
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