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

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $6.02, but opened at $6.27. NexGen Energy shares last traded at $6.35, with a volume of 2,739,909 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NXE shares. Stifel Canada raised shares of NexGen Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Scotiabank reaffirmed an "outperform" rating on shares of NexGen Energy in a research note on Thursday, March 6th. Stifel Nicolaus started coverage on shares of NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating on the stock. Finally, Raymond James reissued an "outperform" rating on shares of NexGen Energy in a research note on Friday, April 4th. Three analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Strong Buy".

NexGen Energy Price Performance

The company has a market cap of $3.65 billion, a price-to-earnings ratio of 42.74 and a beta of 1.54. The firm has a 50 day simple moving average of $5.17 and a 200-day simple moving average of $6.10.

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

Institutional Investors Weigh In On NexGen Energy

A number of institutional investors have recently modified their holdings of NXE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NexGen Energy by 13.0% during 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 worth $3,166,000 after acquiring an additional 81,167 shares in the last quarter. Caxton Associates LLP purchased a new stake in NexGen Energy during the first quarter worth about $165,000. Goldman Sachs Group Inc. lifted its position in shares of NexGen Energy by 1.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,986,982 shares of the company's stock worth $13,412,000 after purchasing an additional 36,510 shares in the last quarter. PenderFund Capital Management Ltd. boosted its stake in shares of NexGen Energy by 45.0% in the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock valued at $52,000 after purchasing an additional 3,600 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of NexGen Energy by 7.3% in the first 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. 42.43% of the stock is owned by institutional investors and hedge funds.

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.