Zacks Investment Research Downgrades 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 research report issued to clients and investors 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. “

NYSEAMERICAN:NXE opened at $1.32 on Friday. NexGen Energy has a 52 week low of $1.10 and a 52 week high of $2.37.

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

A number of large investors have recently added to or reduced their stakes in NXE. Dudley & Shanley Inc. increased its holdings in NexGen Energy by 1.1% in the 2nd quarter. Dudley & Shanley Inc. now owns 1,102,500 shares of the company’s stock valued at $1,721,000 after buying an additional 11,500 shares during the period. Exane Derivatives increased its holdings in NexGen Energy by 28.4% in the 2nd quarter. Exane Derivatives now owns 285,000 shares of the company’s stock valued at $444,000 after buying an additional 63,000 shares during the period. Pinnacle Associates Ltd. increased its holdings in NexGen Energy by 34.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 187,881 shares of the company’s stock valued at $295,000 after buying an additional 48,629 shares during the period. CIBC Asset Management Inc increased its holdings in NexGen Energy by 14.2% in the 2nd quarter. CIBC Asset Management Inc now owns 184,756 shares of the company’s stock valued at $288,000 after buying an additional 22,946 shares during the period. Finally, Signition LP bought a new position in NexGen Energy in the 2nd quarter valued at about $73,000.

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.

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