Zacks Investment Research Lowers NexGen Energy (NYSEAMERICAN:NXE) to Hold

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Zacks Investment Research lowered shares of NexGen Energy (NYSEAMERICAN:NXE) from a buy rating to a hold rating in a research report sent to 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 traded down $0.03 during trading hours on Friday, reaching $1.32. 57,340 shares of the company’s stock were exchanged, compared to its average volume of 337,261. NexGen Energy has a 12 month low of $1.10 and a 12 month high of $2.37.

NexGen Energy (NYSEAMERICAN:NXE) last issued its earnings results on Friday, August 9th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01).

A number of large investors have recently modified their holdings of NXE. Signition LP bought a new stake in NexGen Energy during the second quarter worth approximately $73,000. UBS Asset Management Americas Inc. boosted its stake in NexGen Energy by 37.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 174,100 shares of the company’s stock worth $272,000 after purchasing an additional 47,800 shares during the period. Toronto Dominion Bank boosted its stake in NexGen Energy by 4.8% in the 2nd quarter. Toronto Dominion Bank now owns 183,796 shares of the company’s stock worth $285,000 after purchasing an additional 8,501 shares during the period. CIBC Asset Management Inc boosted its stake in NexGen Energy by 14.2% in the 2nd quarter. CIBC Asset Management Inc now owns 184,756 shares of the company’s stock worth $288,000 after purchasing an additional 22,946 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in NexGen Energy by 34.9% in the 2nd quarter. Pinnacle Associates Ltd. now owns 187,881 shares of the company’s stock worth $295,000 after purchasing an additional 48,629 shares during the period.

NexGen Energy Company Profile

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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