NexGen Energy (NYSE:NXE) Price Target Cut to $12.00 by Analysts at JPMorgan Chase & Co.

NexGen Energy (NYSE:NXE) had its price target cut by research analysts at JPMorgan Chase & Co. from $14.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 41.56% from the company’s previous close.

A number of other equities analysts also recently issued reports on NXE. Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Sunday, October 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGen Energy in a research note on Friday, August 28th. Finally, Jefferies Financial Group started coverage on shares of NexGen Energy in a research note on Thursday, September 3rd. They set a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NexGen Energy has an average rating of “Moderate Buy” and an average price target of $12.00.

NexGen Energy Trading Up 1.8%

Shares of NXE stock traded up $0.15 during midday trading on Wednesday, reaching $8.48. 1,480,493 shares of the stock were exchanged, compared to its average volume of 6,441,038. NexGen Energy has a 1 year low of $7.33 and a 1 year high of $13.96. The firm has a market cap of $5.67 billion, a PE ratio of -31.42 and a beta of 1.43. The company’s 50 day moving average is $9.04 and its two-hundred day moving average is $10.62.

NexGen Energy (NYSE:NXE) last released its earnings results on Monday, November 9th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04).

Hedge Funds Weigh In On NexGen Energy

Hedge funds have recently bought and sold shares of the company. Guardian Partners Inc. grew its position in NexGen Energy by 43.3% during the 3rd quarter. Guardian Partners Inc. now owns 4,300 shares of the company’s stock valued at $39,000 after purchasing an additional 1,300 shares during the last quarter. Trifecta Capital Advisors LLC purchased a new position in NexGen Energy in the second quarter worth about $46,000. Integrated Wealth Concepts LLC purchased a new position in NexGen Energy in the second quarter worth about $62,000. Lifetime Wealth Management P.C. bought a new position in shares of NexGen Energy in the second quarter worth approximately $94,000. Finally, Fiduciary Financial Advisors bought a new position in shares of NexGen Energy in the second quarter worth approximately $100,000. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy is a Canadian uranium exploration and development company focused on advancing uranium projects toward potential production. Its activities include mineral exploration, project planning, engineering and permitting. The company’s flagship asset is the Rook I Project in Saskatchewan’s Athabasca Basin, a major uranium-producing region. Rook I contains the Arrow deposit, which NexGen is working to develop as a potential uranium mine. NexGen’s operations are centered in Canada. The company is in the development stage and is not currently a uranium producer.