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

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) shares gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

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

NexGen Energy Stock Up 1.6%

The firm has a market cap of $3.65 billion, a PE ratio of 42.67 and a beta of 1.54. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $6.10.

NexGen Energy (NYSE:NXE - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). On average, equities research analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NXE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NexGen Energy by 13.0% in 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 valued at $3,166,000 after purchasing an additional 81,167 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of NexGen Energy in the 1st quarter valued at $165,000. Goldman Sachs Group Inc. boosted its holdings 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 valued at $13,412,000 after buying an additional 36,510 shares in the last quarter. PenderFund Capital Management Ltd. grew its position in shares of NexGen Energy by 45.0% in the 1st quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock valued at $52,000 after buying an additional 3,600 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in 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 acquiring an additional 10,266 shares in the last quarter. Hedge funds and other institutional investors 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.