NexGen Energy (NYSE:NXE) Announces Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• NexGen Energy reported a quarterly loss of ($0.10) EPS, missing analysts' expectations by $0.08.
• The company's stock saw a 2.7% increase to $6.94 following the earnings release, with a significant trading volume of over 8 million shares.
• Several institutional investors have recently increased their stakes in NexGen Energy, with institutional ownership now at 42.43%.

NexGen Energy (NYSE:NXE - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08), Zacks reports.

NexGen Energy Trading Down 1.4%

NXE stock traded down $0.10 during midday trading on Friday, reaching $6.88. The company had a trading volume of 5,513,306 shares, compared to its average volume of 7,617,964. The company has a 50 day moving average of $6.76 and a two-hundred day moving average of $5.88. NexGen Energy has a 1 year low of $3.91 and a 1 year high of $8.96. The company has a market capitalization of $3.93 billion, a P/E ratio of -27.52 and a beta of 1.45.

Analysts Set New Price Targets

Separately, Desjardins started coverage on shares of NexGen Energy in a research report on Tuesday, June 10th. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy".

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caxton Associates LLP acquired a new position in shares of NexGen Energy during the 1st quarter worth $165,000. NewEdge Advisors LLC increased its stake in shares of NexGen Energy by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 151,423 shares of the company's stock worth $680,000 after purchasing an additional 10,266 shares during the last quarter. Geode Capital Management LLC grew its stake in NexGen Energy by 6.0% in the 2nd quarter. Geode Capital Management LLC now owns 294,658 shares of the company's stock valued at $2,057,000 after buying an additional 16,704 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NexGen Energy by 13.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company's stock valued at $3,166,000 after buying an additional 81,167 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock valued at $13,412,000 after buying an additional 36,510 shares during 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 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.