NexGen Energy (NYSE:NXE) Shares Up 6.1%

NexGen Energy Ltd. (NYSE:NXE)’s stock price traded up 6.1% during trading on Wednesday . The company traded as high as $7.29 and last traded at $7.27. 395,151 shares were traded during trading, a decline of 93% from the average session volume of 5,990,897 shares. The stock had previously closed at $6.85.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NXE shares. Ventum Cap Mkts raised shares of NexGen Energy to a “strong-buy” rating in a report on Monday. Scotiabank initiated coverage on NexGen Energy in a research note on Monday, April 1st. They issued a “sector outperform” rating for the company. Finally, Haywood Securities raised shares of NexGen Energy to a “strong-buy” rating in a research report on Friday, May 17th.

NexGen Energy Stock Up 9.3 %

The business’s 50-day moving average is $7.39 and its 200-day moving average is $7.49. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -726.27 and a beta of 1.93.

NexGen Energy (NYSE:NXE) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.01). As a group, analysts expect that NexGen Energy Ltd. will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cetera Advisors LLC grew its holdings in NexGen Energy by 2.3% in the first quarter. Cetera Advisors LLC now owns 81,873 shares of the company’s stock valued at $637,000 after purchasing an additional 1,874 shares during the period. Tidal Investments LLC grew its stake in NexGen Energy by 15.8% in the 1st quarter. Tidal Investments LLC now owns 34,409 shares of the company’s stock valued at $267,000 after acquiring an additional 4,702 shares during the period. Connective Capital Management LLC purchased a new stake in NexGen Energy in the 1st quarter worth $1,229,000. Kingdon Capital Management L.L.C. raised its position in NexGen Energy by 17.8% during the first quarter. Kingdon Capital Management L.L.C. now owns 1,177,837 shares of the company’s stock worth $9,152,000 after acquiring an additional 177,837 shares during the period. Finally, L1 Capital Pty Ltd lifted its holdings in NexGen Energy by 6.3% during the first quarter. L1 Capital Pty Ltd now owns 24,083,310 shares of the company’s stock valued at $187,127,000 after purchasing an additional 1,423,317 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

About NexGen Energy

NexGen Energy Ltd., an exploration and development stage company, engages in the acquisition, exploration, and evaluation and development of uranium properties in Canada. It holds 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.