NexGen Energy (NYSE:NXE) Hits New 52-Week High - Here's What Happened

Key Points

• NexGen Energy shares reached a new 52-week high, trading at $8.99 with a volume of 26,451 shares during mid-day trading on Tuesday.
• Several analysts have issued positive ratings for NexGen Energy, with a consensus rating of "Buy" and one analyst designating it as a Strong Buy.
• The company reported a quarterly earnings miss, with earnings per share at ($0.10), falling short of analyst estimates by $0.08.

NexGen Energy (NYSE:NXE - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.97 and last traded at $8.99, with a volume of 26451 shares trading hands. The stock had previously closed at $8.93.

Analyst Ratings Changes

NXE has been the subject of a number of recent analyst reports. Desjardins initiated coverage on shares of NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating for the company. TD Securities reissued a "buy" rating on shares of NexGen Energy in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy".

NexGen Energy Stock Up 1.8%

The stock's 50 day moving average is $7.32 and its two-hundred day moving average is $6.20. The company has a market capitalization of $5.23 billion, a PE ratio of -36.49 and a beta of 1.46.

NexGen Energy (NYSE:NXE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). On average, sell-side analysts predict that NexGen Energy will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

Large investors have recently added to or reduced their stakes in the company. Compound Planning Inc. bought a new position in NexGen Energy in the first quarter worth about $46,000. PenderFund Capital Management Ltd. raised its holdings in NexGen Energy by 45.0% in the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock worth $52,000 after purchasing an additional 3,600 shares in the last quarter. Ground Swell Capital LLC bought a new position in NexGen Energy in the first quarter worth about $55,000. Canton Hathaway LLC acquired a new position in shares of NexGen Energy during the second quarter valued at about $57,000. Finally, Olympiad Research LP acquired a new position in shares of NexGen Energy during the second quarter valued at about $73,000. 42.43% of the stock is currently owned by institutional investors.

NexGen Energy Company Profile

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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.

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