NexGen Energy (NYSE:NXE) Trading Down 7.9%

NexGen Energy Ltd. (NYSE:NXE) shares fell 7.9% on Thursday . The stock traded as low as $6.13 and last traded at $6.14. 2,283,809 shares were traded during trading, a decline of 61% from the average session volume of 5,803,222 shares. The stock had previously closed at $6.67.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NXE. Haywood Securities raised shares of NexGen Energy to a “strong-buy” rating in a research report on Friday, May 17th. Ventum Cap Mkts raised shares of NexGen Energy to a “strong-buy” rating in a research report on Monday, July 8th.

NexGen Energy Stock Down 5.0 %

The firm’s 50-day moving average is $6.96 and its two-hundred day moving average is $7.44. The stock has a market cap of $3.13 billion, a P/E ratio of -553.95 and a beta of 1.93.

NexGen Energy (NYSE:NXE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.01). Analysts anticipate that NexGen Energy Ltd. will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NexGen Energy

Several institutional investors and hedge funds have recently modified their holdings of NXE. Raymond James Financial Services Advisors Inc. grew its position in shares of NexGen Energy by 51.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 109,097 shares of the company’s stock valued at $764,000 after purchasing an additional 36,922 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in NexGen Energy by 7.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,505,360 shares of the company’s stock valued at $179,307,000 after acquiring an additional 1,744,062 shares in the last quarter. Triasima Portfolio Management inc. lifted its stake in NexGen Energy by 1.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 248,783 shares of the company’s stock valued at $1,744,000 after acquiring an additional 3,601 shares in the last quarter. Mackenzie Financial Corp lifted its stake in NexGen Energy by 39.8% in the 4th quarter. Mackenzie Financial Corp now owns 269,159 shares of the company’s stock valued at $1,884,000 after acquiring an additional 76,568 shares in the last quarter. Finally, Canton Hathaway LLC lifted its stake in NexGen Energy by 492.9% in the 4th quarter. Canton Hathaway LLC now owns 43,875 shares of the company’s stock valued at $307,000 after acquiring an additional 36,475 shares in 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.