NexGen Energy Target of Unusually Large Options Trading (NYSE:NXE)

Key Points

• Unusual options activity: Investors purchased 15,306 put options on NexGen Energy, roughly 107% above its average put volume of 7,411 contracts.
• Shares rose 3.9%: NXE gained $0.40 to $10.63, with a market capitalization of approximately $7.12 billion. The stock remains below its 200-day moving average of $11.23.
• Institutional support and mixed analyst views: Major investors including Vanguard, VanECK and L1 Capital increased their holdings, while institutional ownership reached 42.43%. Analysts have a “Moderate Buy” consensus, with four Buy ratings, one Hold and one Sell.

NexGen Energy (NYSE:NXE - Get Free Report) was the target of some unusual options trading on Friday. Stock investors acquired 15,306 put options on the company. This represents an increase of approximately 107% compared to the average volume of 7,411 put options.

NexGen Energy Stock Up 3.9%

Shares of NYSE:NXE traded up $0.40 during trading on Friday, reaching $10.63. 1,483,584 shares of the company traded hands, compared to its average volume of 7,038,850. The firm has a fifty day simple moving average of $9.85 and a 200 day simple moving average of $11.23. NexGen Energy has a 1-year low of $6.26 and a 1-year high of $13.96. The firm has a market cap of $7.12 billion, a P/E ratio of -26.58 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. L1 Capital Pty Ltd lifted its holdings in shares of NexGen Energy by 9.1% during the 4th quarter. L1 Capital Pty Ltd now owns 33,642,681 shares of the company's stock valued at $309,145,000 after buying an additional 2,804,090 shares during the last quarter. Van ECK Associates Corp increased its holdings in NexGen Energy by 23.4% in the fourth quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company's stock worth $268,240,000 after buying an additional 5,523,932 shares during the last quarter. Vanguard Group Inc. increased its holdings in NexGen Energy by 15.5% in the fourth quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company's stock worth $226,901,000 after buying an additional 3,304,071 shares during the last quarter. Millennium Management LLC raised its position in NexGen Energy by 97.8% during the third quarter. Millennium Management LLC now owns 10,134,381 shares of the company's stock valued at $90,718,000 after acquiring an additional 5,011,890 shares in the last quarter. Finally, Hancock Prospecting Pty Ltd raised its position in NexGen Energy by 10.0% during the fourth quarter. Hancock Prospecting Pty Ltd now owns 9,078,245 shares of the company's stock valued at $83,656,000 after acquiring an additional 828,245 shares in the last quarter. Hedge funds and other institutional investors own 42.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NXE shares. Scotiabank reissued an "outperform" rating on shares of NexGen Energy in a research note on Friday, May 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

NexGen Energy Company Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company's primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen's technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world's most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.

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