NexGen Energy (NYSE:NXE) Sets New 52-Week High – Still a Buy?

NexGen Energy (NYSE:NXE) hit a new 52-week high on Friday . The company traded as high as $11.12 and last traded at $11.1550, with a volume of 87537 shares. The stock had previously closed at $10.79.

Wall Street Analyst Weigh In

NXE has been the subject of a number of research analyst reports. Zacks Research upgraded NexGen Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Raymond James Financial reiterated an “outperform” rating on shares of NexGen Energy in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of NexGen Energy in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

NexGen Energy Trading Up 0.7%

The stock has a market capitalization of $7.12 billion, a P/E ratio of -26.72 and a beta of 1.43. The stock’s fifty day moving average price is $9.00 and its two-hundred day moving average price is $8.15.

NexGen Energy (NYSE:NXE) last posted 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 expect that NexGen Energy will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of NexGen Energy

A number of hedge funds have recently modified their holdings of NXE. Versant Capital Management Inc lifted its position in NexGen Energy by 287,500.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,876 shares of the company’s stock valued at $26,000 after acquiring an additional 2,875 shares in the last quarter. CWM LLC bought a new stake in NexGen Energy in the 3rd quarter worth approximately $41,000. Canton Hathaway LLC purchased a new stake in NexGen Energy during the second quarter valued at $57,000. Olympiad Research LP purchased a new position in NexGen Energy in the second quarter worth about $73,000. Finally, Flow Traders U.S. LLC purchased a new position in NexGen Energy during the second quarter worth $76,000. 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.