NexGen Energy (NYSE:NXE) Shares Gap Up to $5.98

NexGen Energy Ltd. (NYSE:NXE) gapped up prior to trading on Friday . The stock had previously closed at $5.98, but opened at $6.33. NexGen Energy shares last traded at $6.36, with a volume of 1,211,675 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NXE. Ventum Cap Mkts upgraded shares of NexGen Energy to a “strong-buy” rating in a research note on Monday, July 8th. National Bank Financial upgraded shares of NexGen Energy to a “strong-buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, NexGen Energy currently has a consensus rating of “Strong Buy” and an average target price of $11.00.

NexGen Energy Stock Performance

The stock has a fifty day simple moving average of $6.02 and a two-hundred day simple moving average of $7.04. The stock has a market cap of $3.47 billion, a PE ratio of -636.00 and a beta of 1.91.

NexGen Energy (NYSE:NXE) last posted its earnings results on Wednesday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. During the same quarter last year, the firm earned ($0.03) EPS. On average, equities analysts predict that NexGen Energy Ltd. will post -0.09 EPS for the current fiscal year.

Institutional Trading of NexGen Energy

Several large investors have recently modified their holdings of NXE. Swiss National Bank boosted its holdings in NexGen Energy by 12.9% in the first quarter. Swiss National Bank now owns 989,000 shares of the company’s stock valued at $7,686,000 after purchasing an additional 112,700 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of NexGen Energy by 23.3% during the 1st quarter. Van ECK Associates Corp now owns 1,852,355 shares of the company’s stock valued at $14,395,000 after buying an additional 350,017 shares during the last quarter. Southland Equity Partners LLC grew its position in shares of NexGen Energy by 22.0% during the first quarter. Southland Equity Partners LLC now owns 21,327 shares of the company’s stock worth $166,000 after buying an additional 3,840 shares in the last quarter. Bornite Capital Management LP bought a new stake in shares of NexGen Energy in the fourth quarter worth $3,630,000. Finally, Russell Investments Group Ltd. increased its stake in shares of NexGen Energy by 316.0% in the first quarter. Russell Investments Group Ltd. now owns 146,503 shares of the company’s stock worth $1,140,000 after buying an additional 111,283 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 100% interest in the Rook I project comprising 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.