NexGen Energy (NYSE:NXE) Shares Gap Up – Still a Buy?

NexGen Energy Ltd. (NYSE:NXE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $7.92, but opened at $8.15. NexGen Energy shares last traded at $8.48, with a volume of 2,231,627 shares traded.

Analyst Ratings Changes

Separately, National Bank Financial raised shares of NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, NexGen Energy has an average rating of “Strong Buy” and a consensus price target of $11.00.

NexGen Energy Stock Up 6.7 %

The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 56.53 and a beta of 1.90. The business’s 50 day simple moving average is $6.98 and its 200 day simple moving average is $6.85.

NexGen Energy (NYSE:NXE) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). During the same period in the previous year, the business earned ($0.04) earnings per share. Equities research analysts forecast that NexGen Energy Ltd. will post -0.06 earnings per share for the current fiscal year.

Institutional Trading of NexGen Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of NexGen Energy by 5,020.5% during the first quarter. Vanguard Group Inc. now owns 16,222,256 shares of the company’s stock worth $126,047,000 after acquiring an additional 15,905,444 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of NexGen Energy by 792.0% during the third quarter. The Manufacturers Life Insurance Company now owns 7,115,250 shares of the company’s stock worth $46,434,000 after purchasing an additional 6,317,538 shares during the period. Mountaineer Partners Management LLC lifted its holdings in NexGen Energy by 536.6% during the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock worth $24,071,000 after purchasing an additional 3,107,214 shares during the last quarter. Segra Capital Management LLC boosted its stake in NexGen Energy by 19.8% in the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after purchasing an additional 1,931,200 shares during the period. Finally, Van ECK Associates Corp grew its holdings in NexGen Energy by 50.5% in the 3rd quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company’s stock valued at $30,810,000 after buying an additional 1,582,705 shares in the last quarter. Institutional investors and hedge funds own 42.43% of the company’s stock.

NexGen Energy Company Profile

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 a 100% interest in the Rook I project that consists of 32 contiguous mineral claims totaling an area of 35,065 hectares located in the southwestern Athabasca Basin of Saskatchewan.