NexGen Energy (NYSE:NXE) Releases Quarterly Earnings Results

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) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08), Zacks reports.

NexGen Energy Price Performance

Shares of NYSE NXE traded down $0.13 during mid-day trading on Thursday, hitting $6.98. The company had a trading volume of 7,653,192 shares, compared to its average volume of 9,451,891. NexGen Energy has a 12 month low of $3.91 and a 12 month high of $8.96. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of -27.90 and a beta of 1.45. The firm's 50 day simple moving average is $6.73 and its two-hundred day simple moving average is $5.88.

Institutional Investors Weigh In On NexGen Energy

Several large investors have recently added to or reduced their stakes in NXE. Millennium Management LLC lifted its position in NexGen Energy by 15.3% in the first quarter. Millennium Management LLC now owns 4,101,588 shares of the company's stock worth $18,407,000 after purchasing an additional 543,179 shares during the period. NewEdge Advisors LLC increased its position 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 valued at $680,000 after purchasing an additional 10,266 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of NexGen Energy by 1.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock worth $13,412,000 after buying an additional 36,510 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NexGen Energy in the first quarter valued at $165,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NexGen Energy by 13.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 705,024 shares of the company's stock worth $3,166,000 after acquiring an additional 81,167 shares during the period. 42.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Desjardins assumed coverage on NexGen Energy in a research note on Tuesday, June 10th. They set a "buy" rating on the stock. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy".

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.