NexGen Energy (NYSE:NXE) Shares Gap Up - Here's What Happened

NexGen Energy Ltd. (NYSE:NXE - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $5.44, but opened at $5.81. NexGen Energy shares last traded at $6.15, with a volume of 4,581,737 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on NXE shares. Raymond James reiterated an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Nicolaus assumed coverage on NexGen Energy in a research report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Stifel Canada raised NexGen Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NexGen Energy currently has an average rating of "Strong Buy".

NexGen Energy Stock Performance

The stock has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $6.17. The company has a market cap of $3.45 billion, a P/E ratio of 40.50 and a beta of 1.50.

NexGen Energy (NYSE:NXE - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04). Sell-side analysts anticipate that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its stake in shares of NexGen Energy by 10.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,345 shares of the company's stock valued at $101,000 after purchasing an additional 1,500 shares during the period. Silver Lake Advisory LLC acquired a new position in shares of NexGen Energy in the 4th quarter worth approximately $73,000. Caprock Group LLC acquired a new position in shares of NexGen Energy in the 4th quarter worth approximately $462,000. Jennison Associates LLC acquired a new position in NexGen Energy during the fourth quarter worth $2,487,000. Finally, Van ECK Associates Corp raised its stake in NexGen Energy by 79.7% during the fourth quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock worth $55,971,000 after acquiring an additional 3,762,756 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company's stock.

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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