Shares of NexGen Energy Ltd. (NYSE:NXE - Get Free Report) dropped 3.5% during mid-day trading on Thursday . The stock traded as low as $6.18 and last traded at $6.18. Approximately 2,254,181 shares changed hands during trading, a decline of 68% from the average daily volume of 7,080,200 shares. The stock had previously closed at $6.41.
Wall Street Analyst Weigh In
NXE has been the subject of a number of analyst reports. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a report on Thursday, March 6th. Stifel Canada raised NexGen Energy to a "strong-buy" rating in a report on Tuesday, March 11th. Raymond James reissued an "outperform" rating on shares of NexGen Energy in a report on Friday, April 4th. Finally, Stifel Nicolaus initiated coverage on NexGen Energy in a report on Wednesday, March 12th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, NexGen Energy has a consensus rating of "Strong Buy".
Check Out Our Latest Stock Report on NXE
NexGen Energy Stock Down 0.3%
The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 41.20 and a beta of 1.50. The stock has a fifty day moving average price of $5.12 and a two-hundred day moving average price of $6.12.
NexGen Energy (NYSE:NXE - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). As a group, research analysts forecast that NexGen Energy Ltd. will post -0.05 earnings per share for the current fiscal year.
Hedge Funds Weigh In On NexGen Energy
Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in NexGen Energy by 284.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,000 shares of the company's stock valued at $33,000 after purchasing an additional 3,700 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in NexGen Energy during the fourth quarter valued at about $51,000. Compound Planning Inc. purchased a new stake in NexGen Energy during the first quarter valued at about $46,000. Mariner LLC purchased a new stake in NexGen Energy during the fourth quarter valued at about $68,000. Finally, PenderFund Capital Management Ltd. grew its position in NexGen Energy by 45.0% during the first quarter. PenderFund Capital Management Ltd. now owns 11,600 shares of the company's stock valued at $52,000 after acquiring an additional 3,600 shares during the period. 42.43% of the stock is currently owned by institutional investors and hedge funds.
About NexGen Energy
(
Get Free Report)
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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