NexGen Energy (NYSE:NXE) Sets New 1-Year High – Here’s What Happened

NexGen Energy (NYSE:NXE)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $12.27 and last traded at $11.9850, with a volume of 9151038 shares changing hands. The stock had previously closed at $11.89.

Analyst Ratings Changes

NXE has been the subject of a number of analyst reports. Zacks Research raised NexGen Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of NexGen Energy in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

NexGen Energy Stock Up 0.8%

The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -29.23 and a beta of 1.43. The company has a 50 day simple moving average of $9.43 and a 200 day simple moving average of $8.43.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). As a group, analysts predict that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in shares of NexGen Energy by 1.4% in the second quarter. Cetera Investment Advisers now owns 128,690 shares of the company’s stock valued at $893,000 after purchasing an additional 1,772 shares in the last quarter. Tidal Investments LLC raised its position in NexGen Energy by 6.9% in the 2nd quarter. Tidal Investments LLC now owns 28,015 shares of the company’s stock valued at $194,000 after buying an additional 1,817 shares during the last quarter. Osaic Holdings Inc. lifted its stake in NexGen Energy by 5.7% during the 2nd quarter. Osaic Holdings Inc. now owns 35,057 shares of the company’s stock valued at $243,000 after acquiring an additional 1,904 shares in the last quarter. Sava Infond d.o.o. boosted its holdings in NexGen Energy by 14.3% during the 2nd quarter. Sava Infond d.o.o. now owns 16,000 shares of the company’s stock worth $111,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of NexGen Energy by 4.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 53,935 shares of the company’s stock worth $374,000 after acquiring an additional 2,100 shares in the last quarter. Institutional investors own 42.43% of the company’s stock.

About NexGen Energy

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.