NexGen Energy (NYSE:NXE) Shares Down 3.5% - Should You Sell?

NexGen Energy Ltd. (NYSE:NXE - Get Free Report) fell 3.5% during trading on Thursday . The company traded as low as $6.18 and last traded at $6.18. 2,254,181 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 7,080,200 shares. The stock had previously closed at $6.41.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Nicolaus assumed coverage on shares of NexGen Energy in a research note on Wednesday, March 12th. They issued a "buy" rating on the stock. Raymond James reaffirmed an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Stifel Canada upgraded NexGen Energy to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Scotiabank restated an "outperform" rating on shares of NexGen Energy in a research report on Thursday, March 6th. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Strong Buy".

NexGen Energy Stock Down 2.5%

The firm has a 50 day simple moving average of $5.12 and a two-hundred day simple moving average of $6.11. The stock has a market capitalization of $3.43 billion, a P/E ratio of 40.17 and a beta of 1.50.

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

Institutional Investors Weigh In On NexGen Energy

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in NexGen Energy by 222.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,345,726 shares of the company's stock valued at $41,882,000 after buying an additional 4,378,933 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of NexGen Energy by 79.7% in the 4th quarter. Van ECK Associates Corp now owns 8,481,026 shares of the company's stock valued at $55,971,000 after acquiring an additional 3,762,756 shares during the last quarter. L1 Capital Pty Ltd boosted its holdings in shares of NexGen Energy by 11.8% during the 1st quarter. L1 Capital Pty Ltd now owns 30,644,505 shares of the company's stock valued at $137,372,000 after acquiring an additional 3,226,055 shares in the last quarter. Packer & Co Ltd acquired a new stake in shares of NexGen Energy during the 1st quarter valued at $13,581,000. Finally, Encompass Capital Advisors LLC grew its position in NexGen Energy by 249.5% during the 1st quarter. Encompass Capital Advisors LLC now owns 4,153,080 shares of the company's stock worth $18,635,000 after acquiring an additional 2,964,900 shares during the last quarter. 42.43% of the stock is currently owned by institutional investors and hedge funds.

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.