NexGen Energy (NYSE:NXE) Shares Gap Up – Should You Buy?

NexGen Energy Ltd. (NYSE:NXEGet Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.12, but opened at $8.45. NexGen Energy shares last traded at $8.50, with a volume of 1,064,580 shares changing hands.

Analyst Ratings Changes

Separately, National Bank Financial upgraded NexGen Energy to a “strong-buy” rating in a research note on Tuesday, September 3rd.

Get Our Latest Report on NXE

NexGen Energy Trading Up 1.4 %

The stock’s 50-day moving average price is $7.53 and its two-hundred day moving average price is $6.90. The stock has a market capitalization of $4.65 billion, a P/E ratio of 54.14 and a beta of 1.91.

NexGen Energy (NYSE:NXEGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.01). During the same quarter last year, the company earned ($0.04) earnings per share. On average, equities research analysts predict that NexGen Energy Ltd. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On NexGen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXE. The Manufacturers Life Insurance Company increased its stake in shares of NexGen Energy by 792.0% in 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 in the last quarter. Mountaineer Partners Management LLC grew its stake in NexGen Energy by 536.6% in the 3rd quarter. Mountaineer Partners Management LLC now owns 3,686,231 shares of the company’s stock valued at $24,071,000 after buying an additional 3,107,214 shares in the last quarter. Segra Capital Management LLC raised its holdings in NexGen Energy by 19.8% during the 3rd quarter. Segra Capital Management LLC now owns 11,671,758 shares of the company’s stock valued at $76,217,000 after acquiring an additional 1,931,200 shares during the period. Van ECK Associates Corp lifted its position in shares of NexGen Energy by 50.5% during the third quarter. Van ECK Associates Corp now owns 4,718,270 shares of the company’s stock worth $30,810,000 after acquiring an additional 1,582,705 shares in the last quarter. Finally, Appian Way Asset Management LP boosted its holdings in shares of NexGen Energy by 403.7% in the third quarter. Appian Way Asset Management LP now owns 1,626,807 shares of the company’s stock worth $10,623,000 after acquiring an additional 1,303,864 shares during the period. 42.43% of the stock is currently owned by institutional investors.

About NexGen Energy

(Get Free Report)

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.

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